Arizona Revised Statutes Title 5. Amusements and Sports § 5-835. Tourism revenue clearing account

1. To the debt service account established by § 5-865, an amount equal to one-twelfth of the annual debt service on bonds and other debt obligations issued by the authority for not more than one-half of three hundred thirty-one million dollars of the capital costs associated with constructing the multipurpose facility, plus interest earned on any monies escrowed before payment to the debt service account, amortized over a thirty year repayment term and that are secured in whole or in part by and payable from revenues or monies deposited in the tourism revenue clearing account, or a lesser amount as determined by the authority.

2. To the tourism fund established by § 41-2306, an amount equal to one-twelfth of four million dollars over the first twelve months of distribution, increased in each subsequent twelve month period by an additional five per cent over the preceding twelve months' distribution.

3. To the cactus league promotion account established by § 5-837, an amount equal to:

4. To the youth and amateur sports facilities account established by § 5-838, an amount equal to one-twelfth of one million dollars over the first twelve months of distribution, increased in each subsequent twelve month period by an additional one hundred thousand dollars over the prior twelve months' distribution.

5. To the operating account established by § 5-836, an amount equal to one-twelfth of the authority's adopted budget for the period for the purposes set forth in § 5-836, subsection B, paragraphs 1 and 2.

6. To the youth and amateur sports facilities reserve established by § 5-838, subsection B, an amount required to be distributed pursuant to paragraph 4 during the preceding fiscal year to the youth and amateur sports facilities account established by § 5-838, subsection A, less any amount on deposit in the youth and amateur sports facilities reserve.

7. To the operating account established by § 5-836, any monies remaining unallocated each month.

1. Seventy per cent to the tourism fund established by § 41-2306.

2. Thirty per cent to the cactus league promotion account established by § 5-837.