Arizona Laws 5-1472. Investment of monies in the debt service account
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A. The board may authorize the authority‘s fiscal agent to invest and reinvest any monies in the debt service account as provided by section 5-1473.
Terms Used In Arizona Laws 5-1472
- Authority: means the southern Arizona sports, tourism and film authority. See Arizona Laws 5-1401
- Board: means the board of directors of the authority. See Arizona Laws 5-1401
B. The order directing an investment shall state a date on which the monies and other resources in the debt service account will be needed for use, and the fiscal agent shall make the investment in such a way as to mature on or before the specified date.
C. All monies earned as interest or otherwise derived from the investment of the monies in the debt service account shall be credited as described in the authorizing resolution.