A unit may use revenues from a tax imposed under this chapter for one (1) or more of the following purposes:

1. (1) To promote and encourage conventions, visitors, and tourism within the unit.
2. (2) To promote and encourage economic development within the unit.

3. (3) Paying debt service or lease rentals on:

   1. (A) bonds;
   2. (B) leases;
   3. (C) obligations; or

   4. (D) any other evidence of indebtedness of the unit;

      for a project described in subdivisions (1) and (2).

As added by P.L.214-2005, SEC.47.