3-1010

3-1010. Provision of bond resolution;
covenants

A. A resolution pertaining to issuance of bonds under this article may contain
covenants as to:

1. The purpose to which the proceeds of sale of the bonds may be applied and to the
use and disposition thereof.

2. The use and disposition of the revenues of the project for which the bonds are
to be issued.

3. The issuance of other or additional bonds, payable from the revenue received
from the operation of the coliseum and exposition center and its facilities.

4. The operation and maintenance of the coliseum and exposition center and its
facilities.

5. The insurance to be carried thereon and the use and disposition of insurance
monies.

6. Books of account and the inspection and audit thereof.

7. The terms and conditions upon which the holders of the bonds, or any proportion
of them, or a trustee therefor, shall be entitled to the appointment of a receiver, who
may enter and take possession of the coliseum and exposition center and its facilities,
operate and maintain it, prescribe charges, fees and rentals and collect, receive and
apply all revenues therefrom thereafter arising in the same manner as the Arizona
exposition and state fair board itself might do, until such time as the terms and
conditions of the bonds are satisfied, at which time the receiver shall return possession
of the coliseum and exposition center and its facilities to the Arizona exposition and
state fair board.

B. The provisions of this article and any such resolution shall be deemed a
contract with the holders of the bonds, and the duties of the Arizona exposition and
state fair board under this article and resolution shall be enforceable by mandamus or
other appropriate action in a court of competent jurisdiction.