The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
The Arizona exposition and state fair board, in connection with the issuance of bonds and in order to secure the payment of the bonds and the interest thereon, shall have power by resolution:
1. To fix and maintain fees, rentals and other charges of stalls, pens, stables and rental of other buildings as may be on the fair grounds; provided, however, that no fee shall be charged for exhibits during the state fair of agricultural, dairy, horticultural, culinary, apiary and handwork products of exhibitors at the state fair, unless the same be for sale.
2. To provide that the bonds issued hereunder may be secured by a first, exclusive and closed lien on the income and revenues derived from, and shall be payable from, fees, rentals and other charges as set out in the preceding paragraph.
3. To covenant with or for the benefit of the holder or holders of bonds issued hereunder, that so long as any of the bonds remain outstanding and unpaid, the Arizona exposition and state fair board will prescribe service charges, fees and rentals, and will revise the same when necessary so that the project for which the bonds are issued shall always remain self-supporting, with revenues sufficient:
(a) To pay when due all bonds and interest thereon.
(b) To provide for all expenses of operation, maintenance, expansion and replacement of facilities.
(c) To provide reasonable reserves for such purposes.