Arizona Arizona Revised Statutes

§ 9-603 — Use of fund monies

ARS § 9-603Title 9. Cities and Towns · Ch. 6. CONVENTION CENTERS · Art. 1. Arizona Convention Center Development Fund

Statute text

9-603. Use of fund monies A. The monies in the Arizona convention center development fund shall be used only for the purposes specified in this chapter. B. The state treasurer shall disburse monies from the fund as provided in section 9-602. Any amounts remaining in the fund after the distributions made pursuant to section 9-602, subsection C shall be held in reserve for the purposes of the distributions until the certificate of satisfaction of annual obligations is received by the state treasurer or until the first Monday in August if a certificate of completion of construction has not been previously filed pursuant to section 9-622. C. A city that receives monies distributed from the fund: 1. Shall segregate and separately account for the monies and shall not commingle the monies from the fund with monies from any other source. Those monies shall be designated as a special fund of the eligible city, separate from the city's general fund. Any amount not immediately used to meet scheduled payments or current expenses shall remain in the special fund, shall not be transferred to the city's general fund and shall be used only for the permitted purposes in the future. 2. May use monies from the fund only for the following purposes in connection with an eligible project under section 9-605:

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