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Current as of January 01, 2024 | Updated by Findlaw Staff
(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: FindLaw.com - Texas Government Code - GOV'T § 479.0153. Allowable Expenses - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-479-0153/
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 before relying on it for your legal needs.
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