Sec. 3846.302. VENUE PROJECT FUND. (a) The district shall establish by resolution a fund known as the community venue project fund. The district shall establish separate accounts in the fund for the various revenue sources.
(b) The district shall deposit into the community venue project fund:
(1) the proceeds of any tax imposed by the district under Subchapters H and I;
(2) all revenue from the sale of bonds or other obligations by the district under this chapter; and
(3) any other money required by law to be deposited in the fund.
(c) The district may use money in the community venue project fund to:
(1) reimburse or pay the costs of planning, acquiring, establishing, developing, constructing, or renovating one or more venue projects in the district;
(2) pay the principal of, interest on, and other costs relating to bonds or other obligations issued by the district to refund bonds, notes, or other obligations;
(3) pay the costs of operating or maintaining one or more venue projects; or
(4) pay the administrative costs of the district associated with the operation and administration of one or more venue projects.
(d) Money deposited into the community venue project fund is the property of the district.
Added by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 21.037, eff. September 1, 2009.
Section: Previous 3846.260 3846.261 3846.262 3846.263 3846.264 3846.265 3846.301 3846.302 3846.303 3846.351 3846.352 3846.353 3846.354 3846.401 3846.402 NextLast modified: September 28, 2016