Section 480.0204 - Allowable Expenses(a) Money in the events trust fund may be used to:(1) pay the principal of and interest on notes issued under Section 480.0252; and(2) fulfill obligations of an endorsing municipality, an endorsing county, or this state to a site selection organization under an event support contract.(b) Subject to Sections 480.0202 and 480.0205, the obligations described by Subsection (a)(2) may include the payment of:(1) the costs relating to the preparations necessary for conducting the event; and(2) the costs of conducting the event, including costs of an improvement or renovation to an existing facility and costs of acquisition or construction of a new facility or other facility.Tex. Gov't. Code § 480.0204
Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. TBD,Sec. 1.01, eff. 4/1/2021.