§ 109-3-5

§109-3.5 Stadium development special fund; established. (a) There is established in the state treasury the stadium development special fund, into which funds collected by the stadium authority shall be deposited, including: (1) All revenues from the stadium development district, including but not limited to agreements or actions generating revenue related to stadium operations, lease or rental of facilities or land, concessions, food and beverage, parking, sponsorship and advertising, utilities and infrastructure, and development; (2) All gifts or grants awarded in any form from any public agency or any other source for purposes of the stadium development district; (3) All proceeds from revenue bonds issued for the purpose of the stadium development district; and (4) Appropriations made by the legislature to the fund. (b) Moneys in the stadium development special fund shall be used by the stadium authority for the payment of expenses arising from any and all use, operation, repair, maintenance, alteration, improvement, development, or any unforeseen or unplanned repairs of the stadium development district, including without limitation: (1) The development, operation, and

epair, maintenance, alteration, improvement, development, or any unforeseen or unplanned repairs of the stadium development district, including without limitation: (1) The development, operation, and maintenance of a new stadium; (2) Food and beverage service and parking service provided at the stadium facility; the sale of souvenirs, logo items, or other items; any future major repair, maintenance, and improvement of the stadium facility as a commercial enterprise or as a world-class facility for athletic events, entertainment, or public events; and marketing the facility pursuant to section 109-2(4) and (8); and (3) Contractual payments to developers or contractors engaged by the stadium authority for the purpose of redeveloping the site and related on- and off-site infrastructure that benefits the stadium district and its development guidance policies. [L 2021, c 146, §6]