Sec. 479.0203. PLEDGE OF SURCHARGES TO GUARANTEE OBLIGATIONS. An endorsing municipality or endorsing county may guarantee its obligations under a motor sports racing event support contract and this chapter by pledging, in addition to the tax revenue deposited under Section 479.0102, surcharges from user fees charged in connection with the motor sports racing event, including parking or ticket fees.
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 479 - Motor Sports Racing Trust Fund
Subchapter E. Local Powers and Duties Relating to Motor Sports Racing Events
Section 479.0201. Required Information
Section 479.0202. Issuance of Notes
Section 479.0203. Pledge of Surcharges to Guarantee Obligations