The proceeds of the sales and use tax imposed under this chapter may be used to:

1. (1) pay the costs of projects of the types added to the definition of "project" by Subchapter D; or

2. (2) pay the principal of, interest on, and other costs relating to bonds or other obligations issued by the Type B corporation to:

   1. (A) pay the costs of the projects; or
   2. (B) refund bonds or other obligations issued to pay the costs of projects.

Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.