(a) The secretary of state, or his designee, on behalf of the state, and the endorsing
municipality may execute a games support contract that is required by a site selection
organization in connection with the committee's bid to host an olympic games.
(b) The local organizing committee shall provide any information reasonably requested
by the state, with copies to the leaders of both houses of the legislature, and/or
the endorsing municipality to assist in reviewing the games support contract.
(c) The secretary of state, or his designee, on behalf of the state, and the endorsing
municipality, may agree in a games support contract, that the state and endorsing
municipality will fulfill their obligations under a games support contract to indemnify
and insure against any net financial deficit resulting from the conduct of the games.
(d) With respect to the olympic games, (1) any liability, any potential liability
and financial commitments or liability of the state and endorsing municipality will
not exceed two hundred fifty million dollars in the aggregate;
(3) notwithstanding any other provision of this act, no agreement entered into pursuant
to this act may obligate the state to pay any part of the cost of acquiring any interest
in real or personal property, or the cost of planning, designing, or constructing
any improvement to real or personal property, or otherwise financially obligate the
state, other than the guaranty specifically provided for in this act.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.