A. The authority shall maintain a youth and amateur sports facilities account consisting of monies transmitted to the account pursuant to section 5-835.

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

B. The authority shall establish a youth and amateur sports facilities reserve within the account consisting of monies transmitted to the reserve pursuant to section 5-835, subsection B, paragraph 6. The authority shall transfer from the reserve to the account an amount equal to any deficiency in the monthly amount distributed to the account pursuant to section 5-835, subsection B, paragraph 3.

C. The authority shall use monies in the account for purposes of section 5-809.