There is hereby created in the state treasury the sports event grant fund, which shall consist of money appropriated to the fund. Money in the fund shall be used solely to make grants to a local organizing committee, endorsing municipality, or endorsing county under section 122.121 of the Revised Code. Except for amounts refunded under division (E) of section 122.121 of the Revised Code, money may not be credited or transferred to the fund if the credit or transfer would cause the balance of the fund to exceed ten million dollars.