308

LAWS OF MARYLAND

Ch. 81

STATE BOARD FOR HIGHER EDUCATION

36.09.00.01 General Administration

General Fund Appropriation.....

Special Fund Appropriation.....

1,695,403

5,135

1,700,538

36.09.00.03 Aid to Non-public
Institutions of Higher Education
General Fund Appropriation.........

36.09.00.04 Interstate Educational
Compacts
General Fund Appropriation.........

36.09.00.05 Federally Assisted Higher
Education Programs
Federal Fund Appropriation.........

36.09.00.07 Peabody Grant

General Fund Appropriation,
provided that this appropriation

shall be contingent on

certification by the institution
to the Board of Public works,
after review and approval by the
State Board for Higher Education,
that $5,000,000 in cash and "term
pledges" have been placed in an
"endowment fund". "Term pledges"
means pledge with a maturity date
no later than December 31, 1991.
"Endowment fund" means a fund
whose principal is inviolate and
permits only the use of income
earned on this principal provided
that this appropriation shall be
contingent on certification by
the Institute to the Board of
Public Works, after review and
approval by the State Board for
Higher Education, that $5,000,000
in cash, "term pledges," and
established trusts and unitrusts
providing current income have
been placed in an "Endowment
Fund." "Term Pledges" means
pledges with a maturity date no
later than December 31, 1991.
"Endowment Fund" means a fund
whose principal is inviolate
under the terms of the grantor,
or where principal has been taken

12,331,026

2,557,306

168,331