1. (a) A local county fund known as the Lake County convention and event center reserve fund is established to pay for:

   1. (1) additions;
   2. (2) refurbishment; and

   3. (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.

2. (b) The reserve fund consists of:

   1. (1) transfers under IC 6-9-2-1.5 (c); and
   2. (2) gifts, grants, donations, or other contributions from any other public or private source.
3. (c) The convention center authority shall administer the reserve fund.

As added by P.L.195-2023, SEC.7.