Ch. 124

LAWS OF MARYLAND

(2) THE UNSPENT BALANCE OF ANY REVENUES FOR THE
MARYLAND STADIUM AUTHORITY SHALL REVERT TO THE GENERAL FUND 2
YEARS AFTER THE END OF THE FISCAL YEAR IN WHICH THE TRANSFER WAS
MADE.

7-312.

(A)  THERE IS A MARYLAND STADIUM AUTHORITY DEBT SERVICE
FACILITIES FUND.

(B)  THE FUND IS:

(1)  A SPECIAL, NONLAPSING FUND THAT CONSISTS OF
MONEYS THAT MAY BE APPROPRIATED, TRANSFERRED, CREDITED, OR PAID
TO IT FROM ANY SOURCE; AND

(2)  NOT SUBJECT TO § 7-302 OF THIS SUBTITLE.

(C)  THE TREASURER SHALL SEPARATELY HOLD, AND THE
COMPTROLLER SHALL ACCOUNT FOR, THE FUND.

(D)  (1) THE FUND SHALL BE INVESTED AND REINVESTED IN THE
SAME MANNER AS OTHER STATE FUNDS.

(2) ANY INVESTMENT EARNINGS SHALL BE RETAINED TO THE
CREDIT OF THE FUND.

(E)  MONEYS CREDITED TO THE MARYLAND STADIUM AUTHORITY DEBT
SERVICE FACILITIES FUND MAY BE USED, IN ACCORDANCE WITH APPROVED
COMPREHENSIVE FINANCING PLANS, TO:

(1)  PAY RENT TO THE MARYLAND STADIUM AUTHORITY; OR

(2)  WITH THE APPROVAL OF THE BOARD OF PUBLIC WORKS,
MAKE GRANTS OR LOANS, NOT EXCEEDING $1 MILLION IN ANY FISCAL
YEAR, TO THE AUTHORITY FOR ITS CORPORATE PURPOSES; OR INCLUDING,
WITHOUT LIMITATION, TO PAY DEBT SERVICE ON, OR TO PREPAY BONDS OR
OTHER OBLIGATIONS OF THE MARYLAND STADIUM AUTHORITY.

(3) WITH THE APPROVAL OF THE BOARD OF PUBLIC WORKS,
FINANCE CAPITAL CONSTRUCTION IN LIEU OF ISSUING BONDS; OR

(4) FINANCIALLY SUPPORT, THROUGH EQUITY INVESTMENT,
LOAN, GUARANTEE, OR OTHERWISE, FULL OR PARTIAL PRIVATE FINANCING
OF ANY ELEMENT OF THE FACILITY.

(F) (1) AT THE END OF THE FISCAL YEAR, A TRANSFER TO THE
DEDICATED PURPOSE ACCOUNT OF THE STATE RESERVE FUND SHALL BE MADE
TO THE EXTENT THAT THE BALANCE OF REVENUES IN THE FUND EXCEEDS:

(I) $24 MILLION; AND

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