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<section article="gec" article_name="Economic Development" number="10-651" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="6" subtitle_name="Maryland Stadium Authority">
  <level label="a">
    <text>There is a Baltimore Convention Financing Fund.</text>
  </level>
  <level label="b">
    <level label="1">
      <text>The Baltimore Convention Fund is a continuing, nonlapsing fund that shall be available in perpetuity to implement this subtitle concerning Baltimore Convention facilities.</text>
    </level>
    <level label="2">
      <text>The Authority shall:</text>
      <level label="i">
        <text>use the Baltimore Convention Fund as a revolving fund for carrying out this subtitle concerning Baltimore Convention facilities; and</text>
      </level>
      <level label="ii">
        <text>pay any and all expenses from the Baltimore Convention Fund that are incurred by the Authority related to the Baltimore Convention facility.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <level label="1">
      <text>To the extent considered appropriate by the Authority, the receipts of the Baltimore Convention Fund shall be pledged to and charged with the following relating to the Baltimore Convention facility:</text>
      <level label="i">
        <text>the payment of debt service on Authority bonds;</text>
      </level>
      <level label="ii">
        <text>all reasonable charges and expenses related to Authority borrowing; and</text>
      </level>
      <level label="iii">
        <text>the management of Authority obligations.</text>
      </level>
    </level>
    <level label="2">
      <text>The pledge shall be effective as provided in § 10–634 of this subtitle and any applicable Authority resolution.</text>
    </level>
  </level>
  <level label="d">
    <text>The Baltimore Convention Fund consists of:</text>
    <level label="1">
      <text>funds appropriated for deposit to the Baltimore Convention Fund;</text>
    </level>
    <level label="2">
      <text>proceeds from the sale of bonds concerning the Baltimore Convention facility;</text>
    </level>
    <level label="3">
      <text>revenues collected or received from any source under this subtitle related to Baltimore Convention facilities; and</text>
    </level>
    <level label="4">
      <text>any additional money made available from any public or private sources for the purposes established for the Baltimore Convention Fund.</text>
    </level>
  </level>
  <level label="e">
    <level label="1">
      <text>The Treasurer shall invest the money of the Baltimore Convention Fund in the same manner as other State funds.</text>
    </level>
    <level label="2">
      <text>Any investment earnings shall be credited to the Baltimore Convention Fund.</text>
    </level>
    <level label="3">
      <text>No part of the Baltimore Convention Fund may revert or be credited to the General Fund or any special fund of the State.</text>
    </level>
  </level>
</section>
