Arizona Laws 11-254.02. Contribution for sports economic development and stadium development; limitation; definition
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A. The board of supervisors of a county having a population of more than one million five hundred thousand persons according to the most recent United States decennial census may appropriate and contribute monies to any governmental agency or municipal corporation for the purpose of stadium development planning and for sports economic development activities. The total appropriations from the general fund under this section in a fiscal year shall not exceed one-half of the amount that may be appropriated by the county for economic development under section 11-254.
Terms Used In Arizona Laws 11-254.02
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
- United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
B. For purposes of this section, "stadium" has the meaning prescribed by section 48-4201.