Ch. 121

LAWS OF MARYLAND

Federal Fund Appropriation...............

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.........

36.09.00.07 Peabody Grant

General Fund Appropriation,
provided that $450,000 of this
appropriation shall be contingent
on certification by the Peabody
Institute of the City of
Baltimore to the Board of Public
Works, after review and approval
by the State Board for Higher
Education, that $8,450,000 has
been placed in the endowment
fund. The remaining $450,000 of
the 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 $8,900,000
has been placed in the endowment
fund. The endowment fund includes
term endowment, both restricted
and unrestricted quasi-endowment,
beneficiary interests in
income-producing trust and
unitrust funds held by others,
and endowment term pledges. "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 into the
Institute's Endowment Fund by
formal action of the Board of
Trustees............................

SUMMARY

383,039	3,125,539
	3,124,287

17,021,863

3,126,460

900,000

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