(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.