Ch. 705

LAWS OF MARYLAND

State, and other money made available to the Fund through federal
programs or private contributions.]:

(1)  MONEY DRAWN FROM THE SMALL BUSINESS DEVELOPMENT
GUARANTY FUND;

(2) MONEY APPROPRIATED BY THE STATE TO THE FUND;

(3)  MONEY MADE AVAILABLE TO THE FUND THROUGH FEDERAL
PROGRAMS OR PRIVATE CONTRIBUTIONS;

(4)  INCOME FROM INVESTMENTS THAT THE STATE TREASURER
ON INSTRUCTION OF THE AUTHORITY, MAKES FROM MONEYS IN THE FUND;

(5)  PROCEEDS FROM THE SALE, DISPOSITION, LEASE OR
RENTAL BY THE AUTHORITY OF COLLATERAL RELATED TO EQUITY
PARTICIPATION FINANCING PROVIDED BY THE AUTHORITY;

(6)  PREMIUMS, FEES, ROYALTIES, AND REPAYMENTS OF
PRINCIPAL, INTEREST AND INVESTMENTS PAID BY AND ON BEHALF OF
FRANCHISE ENTERPRISES TO THE AUTHORITY UNDER THE TERMS OF EQUITY
PARTICIPATION FINANCING PROVIDED BY THE AUTHORITY; AND

(7)  ANY OTHER MONEYS MADE AVAILABLE UNDER THIS
PROGRAM.

(d)  The Authority may, from time to time as needed for the
Program, withdraw amounts from the Small Business Development
Guaranty Fund[, not to exceed a total of $1,000,000
$2,000,000,] and deposit these amounts into the Equity
Participation Investment Program Fund.

(e)  The Authority shall use the Fund and income from the
Fund:

(1)  In the purchase of qualified securities issued by
a franchise for the purpose of providing equity participation
financing as permitted under the Program;

(2)  To provide guarantees of investments to expand
the capital resources of qualified franchises;

(3)  In the purchase of advisory services and
technical assistance consistent with the Program;

(4)  In the purchase of any securities that may be a
lawful investment for a fiduciary of the State; [and]

(5)  To provide equity participation financing as
permitted under the Program; AND

(6)  TO PAY EXPENSES FOR ADMINISTRATIVE, LEGAL, AND
ACTUARIAL AND OTHER SERVICES RELATING TO THE PROGRAM.

- 3262 -