Some conflicting news surfacing about how the new track will be funded.  KXAN claims (in the article just before) that no government money will be used, but Austin Business Journal has just released the following article outlining a $25MM per year agreement with the State of Texas.

Austin Business Journal - 25 Million for F1

We will continue to follow this and add more information as the story unfolds; as of this point, we can't be certain that KXAN was correct, given the ABJ article.  However, it's possible the City of Austin will not foot any of the bill and instead will rely on state funding, perhaps from Rick Perry's Enterprise Fund or from Kirk Watson's bill which created the Sporting Event Trust Fund, Motor Sports Racing Trust Fund and Other Events Trust Fund.

Money, Money, Money!