Allowable Expenses

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.