Sec. 10. (a) A local county fund known as the Lake County convention and event center reserve fund is established to pay for:
(1) additions;
(2) refurbishment; and
(3) budget shortfalls or other unusual costs;
of a convention and event center that is constructed using money from the convention fund under this chapter.
(b) The reserve fund consists of:
(1) transfers under IC 6-9-2-1.5(c); and
(2) gifts, grants, donations, or other contributions from any other public or private source.
(c) The convention center authority shall administer the reserve fund.