Sec. 475.0054. PREREQUISITE FOR EXECUTION OF GAMES SUPPORT CONTRACT. The office may agree to execute a games support contract only if:
(1) the office determines that:
(A) this state's assurances and obligations under the contract are reasonable; and
(B) any financial commitment of this state will be satisfied exclusively by recourse to the Pan American Games trust fund or the Olympic Games trust fund, as applicable; and
(2) the endorsing municipality or endorsing county has executed an agreement with a site selection organization that contains substantially similar terms.
Added by Acts 2019, 86th Leg., R.S., Ch. 301 (H.B. 4174), Sec. 1.01, eff. April 1, 2021.
Structure Texas Statutes
Subtitle E-1 - Event Reimbursement Programs
Chapter 475 - General Provisions
Subchapter B. Actions of Office and State Agencies in Relation to Games
Section 475.0051. Applicability of Subchapter
Section 475.0052. Request for Office to Enter Into Games Support Contract
Section 475.0053. Time for Determination
Section 475.0054. Prerequisite for Execution of Games Support Contract
Section 475.0055. Joinder Undertaking Terms
Section 475.0056. Joinder Agreement Terms
Section 475.0057. Additional Terms of Games Support Contract
Section 475.0058. Repayment Agreement Required