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Texas Government Code - GOV'T § 479.0153. Allowable Expenses

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<Text of section effective April 1, 2021 >

(a) Money in the trust fund may be used to:

(1) pay the principal of and interest on notes issued under Section 479.0202;  and

(2) fulfill obligations of an endorsing municipality, an endorsing county, or this state to a site selection organization under a motor sports racing event support contract or event support contract.

(b) The obligations described by Subsection (a)(2) may include the payment of:

(1) the costs relating to the preparations necessary or desirable for conducting the motor sports racing event;  and

(2) the costs of conducting the racing event, including costs of a temporary improvement or temporary renovation to an existing facility specific to the racing event.

Cite this article: - Texas Government Code - GOV'T § 479.0153. Allowable Expenses - last updated April 14, 2021 |

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