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Code · Maryland · Economic Development

§ 10-652.1

340 words·~2 min read·/md/economic-development/10-652-1

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§10–652.1.
(a)In this section, “Fund” means the Camden Yards Football Sports Facility Supplemental Financing Fund.
(b)There is a Camden Yards Football Sports Facility Supplemental Financing Fund.
(c)The purpose of the Fund is to enable the Authority to:
(1)use the Fund as a revolving fund for implementing this subtitle as it relates to the Camden Yards football sports facility; and
(2)pay any expenses incurred by the Authority that are related to the Camden Yards football sports facility.
(d)The Authority shall administer the Fund.
(1)The Fund is a continuing, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.
(2)The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.
(1)To the extent considered appropriate by the Authority, the receipts of the Fund shall be pledged to and charged with the following related to the Camden Yards football sports facility:
(i)payment of debt service on Authority bonds;
(ii)all reasonable charges and expenses related to the Authority’s borrowing; and
(iii)the management of Authority obligations.
(2)The pledge shall be effective as provided in any applicable Authority resolution.
(g)The Fund consists of:
(1)money distributed to the Fund under § 9–120(b) of the State Government Article;
(2)money appropriated for deposit in the Fund;
(3)proceeds from the sale of bonds concerning the Camden Yards football sports facility;
(4)revenues collected or received from any source under this subtitle related to the Camden Yards football sports facility;
(5)any interest earnings of the Fund; and
(6)any additional money made available from any source for the purposes established for the Fund.
(1)The State Treasurer shall invest the money of the Fund in the same manner as other State funds.
(2)Any investment or interest earnings shall be credited to the Fund.
(3)No part of the Fund may revert or be credited to the General Fund of the State or any special fund of the State.
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