Relation between repository connection and sanboxes

Hello,

I have the following scenario:
I have a repository connection configured in which the URI point to the server by IP.
I have created some repo workspaces and sandboxes.

I have created a new repository connection in which the URI point to the server by name.
I log in with this connection, connect to project area, and use the same sanbox.
When using it I get dialog box with requests the password and the connection information is with the IP details and not the server name as written in the repository connection.(e.g- points to the other connection)

Why does it work like that?
Does the sandbox itself has this information locally?

Thanks,

Yaron Norani