1. (a) Money in the convention fund may be used only for the following:

   1. (1) To acquire, improve, prepare, modernize, construct, repair, demolish, and equip a convention center located in Lake County.
   2. (2) To pay the principal and interest on any obligations, including bonds or leases and development costs, incurred by the development authority for the purpose of financing or refinancing the development of a convention center located in Lake County.
   3. (3) To establish, augment, or restore a debt service reserve for obligations described in this subsection.
   4. (4) If the development authority determines excess money exists in the convention fund, for improvements to the convention center and around the convention center.
2. (b) Money in the convention fund may not be used to pay operating expenses.

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