§ 10-658.1

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§10–658.1.

(a)There is a Supplemental Public School Construction Facilities Fund.

(1)The Supplemental Public School Construction Facilities Fund is a continuing, nonlapsing fund that shall be available to implement this subtitle concerning public school facilities.

(2)The Authority shall:

(i)use the Supplemental Public School Construction Facilities Fund as a revolving fund for carrying out this subtitle concerning public school facilities; and

(ii)to the extent authorized by federal tax law, pay any and all expenses from the Supplemental Public School Construction Facilities Fund that are incurred by the Authority related to any public school facilities.

(c)To the extent considered appropriate by the Authority, the money on deposit in the Supplemental Public School Construction Facilities Fund shall be used to pay the following related to public school facilities:

(1)debt service on Authority bonds;

(2)design and construction costs related to public school facilities;

(3)to the extent authorized by federal tax law, costs of start–up, administration, overhead, and operations related to the management of improvements to public school facilities authorized under this subtitle;

(4)all reasonable charges and expenses related to the Authority’s administration of the Supplemental Public School Construction Facilities Fund and the Supplemental Public School Construction Financing Fund and management of the Authority’s obligations; and

(5)if Prince George’s County submits a public–private partnership agreement to the Authority for review under § 4–126.1 of the Education Article, all reasonable expenses related to the Authority’s review of the public–private partnership agreement.

(d)The Supplemental Public School Construction Facilities Fund consists of:

(1)funds transferred from the Supplemental Public School Construction Financing Fund to the Supplemental Public School Construction Facilities Fund in accordance with § 10–649 of this subtitle;

(2)any interest earnings of the Supplemental Public School Construction Facilities Fund; and

(3)any additional money made available from any public source for the purposes established for the Supplemental Public School Construction Facilities Fund.

(1)The State Treasurer shall invest the money of the Supplemental Public School Construction Facilities Fund in the same manner as other State funds.

(2)Any investment earnings shall be credited to the Supplemental Public School Construction Facilities Fund.

(3)No part of the Supplemental Public School Construction Facilities Fund may revert or be credited to the General Fund or any special fund of the State.

(f)The money in the Supplemental Public School Construction Facilities Fund shall be used to supplement, and may not supplant, money appropriated to the Public School Construction Program established in Title 5, Subtitle 3 of the Education Article.