(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.