Sec. 4. (a) The Earlham College trust fund is established.
(b) The treasurer of state shall invest the money in the Earlham College trust fund not currently needed to meet the obligations of the Earlham College trust fund in the same manner as other public trust funds are invested. Interest that accrues from these investments shall be deposited in the Earlham College trust fund. Money in the fund is continuously appropriated for the purposes of this section.
(c) The bureau shall administer the Earlham College trust fund. Expenses of administering the Earlham College trust fund shall be paid from money in the Earlham College trust fund.
(d) On June 30 of each year, the bureau shall distribute the money from the Earlham College trust fund to Earlham College.
(e) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
[Pre-2016 Revision Citation: 9-18-53-4.]
As added by P.L.198-2016, SEC.327.