Text of section effective on April 01, 2021
Sec. 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.
Added by Acts 2019, 86th Leg., R.S., Ch. 301 (H.B. 4174), Sec. 1.01, eff. April 1, 2021.
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