Section 479.0153 - Allowable Expenses(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.Tex. Gov't. Code § 479.0153
Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. TBD,Sec. 1.01, eff. 4/1/2021.