Section 5-1165 - Bond proceeds accountA. If the authority issues bonds under this article, the authority board shall establish a bond proceeds account within the general fund consisting of monies received from the sale of the bonds.B. The authority board may use monies in the bond proceeds account only for sports authority purposes in the manner prescribed by this chapter.C. The authority's fiscal agent shall administer and account for the bond proceeds account.If a majority of the qualified electors voting on the issue in the first election held pursuant to section 5-1103, Arizona Revised Statutes, as added by this act, reject the levy of taxes and issuance of bonds for the purposes of establishing a sports authority district, title 5, chapter 9, Arizona Revised Statutes, as added by this act, is repealed.