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<section article="ged" article_name="Education" number="4-126.2" title_number="4" title_name="Local School Administration" subtitle_number="1" subtitle_name="County Boards of Education">
  <level label="a">
    <text>In this section, “Fund” means the Prince George’s County Public–Private Partnership Fund.</text>
  </level>
  <level label="b">
    <text>There is a Prince George’s County Public–Private Partnership Fund.</text>
  </level>
  <level label="c">
    <text>The purpose of the Fund is to provide funds to the Prince George’s County Board for the Board to pay a public or private entity for the payment due under the Prince George’s County public–private partnership agreement entered into in accordance with § 4–126.1 of this subtitle.</text>
  </level>
  <level label="d">
    <text>The Interagency Commission on School Construction shall administer the Fund as described in the four–party memorandum of understanding entered into under § 4–126(e)(3)(ii) of this subtitle.</text>
  </level>
  <level label="e">
    <level label="1">
      <text>The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.</text>
    </level>
    <level label="2">
      <text>The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.</text>
    </level>
  </level>
  <level label="f">
    <text>The Fund consists of:</text>
    <level label="1">
      <text>Money deposited into the Fund by Prince George’s County and the Maryland Stadium Authority;</text>
    </level>
    <level label="2">
      <text>Money deposited into the Fund by the State;</text>
    </level>
    <level label="3">
      <text>Any investment earnings of the Fund; and</text>
    </level>
    <level label="4">
      <text>Any other money from any other source accepted for the benefit of the Fund.</text>
    </level>
  </level>
  <level label="g">
    <level label="1">
      <text>Except as provided in paragraph (2) of this subsection, the Fund may be used only to provide funding to Prince George’s County for alternative financing methods under § 4–126 of this subtitle in Prince George’s County.</text>
    </level>
    <level label="2">
      <text>If the Prince George’s County Board receives State funding for an availability payment under § 4–126.1 of this subtitle, the funding received under § 4–126.1 of this subtitle may be used only to pay a payment to a private entity under the public–private partnership agreement entered into and approved in accordance with § 4–126.1 of this subtitle.</text>
    </level>
  </level>
  <level label="h">
    <text>Any appropriation to the Fund shall be used to supplement, but not supplant, money appropriated to Prince George’s County for public school construction under the Public School Construction Program established in Title 5, Subtitle 3 of this article.</text>
  </level>
  <level label="i">
    <level label="1">
      <text>The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.</text>
    </level>
    <level label="2">
      <text>Any interest earnings of the Fund shall be credited to the Fund.</text>
    </level>
  </level>
  <level label="j">
    <text>If a memorandum of understanding is entered into under § 4–126 of this subtitle and State funding is provided for a payment, the Prince George’s County Board and Prince George’s County shall deposit into the Fund the amounts required under the memorandum of understanding.</text>
  </level>
</section>
