Texas Government Code 479.0152 – Disbursement From Trust Fund
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(a) After approval of each contributing endorsing municipality and endorsing county, the office may make a disbursement from the trust fund for a purpose for which an endorsing municipality, an endorsing county, or this state is obligated under a motor sports racing event support contract or event support contract.
(b) If the office makes a disbursement from the trust fund, the office shall satisfy the obligation proportionately from the municipal, county, and state revenue in the trust fund.
Terms Used In Texas Government Code 479.0152
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.