A. There is hereby created in the State Treasury a revolving fund for the University Hospitals Authority, to be designated the "University Hospitals Authority Disbursing Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of appropriated revenues and federal entitlements. All monies accruing to the credit of said fund are hereby appropriated and may be budgeted and expended by the University Hospitals Authority.

B. Following the execution of a lease of real properties under the jurisdiction of the University Hospitals Authority to the University Hospitals Trust pursuant to Section 3226 of this title, monies from the fund may be expended by the Authority for the fiscal year ending June 30, 1998, for the operations of the Authority after the execution of the lease to the University Hospitals Trust for payment of any costs to the Authority associated with the transfer of operations of facilities under the jurisdiction of the Authority, and legal obligations of the Authority. After July 1, 1998, the operation of the Authority shall be funded solely from the interest earned by the fund. The principal of the fund shall be reserved in the event that the state resumes operations of any of the facilities operated by the Authority prior to a lease being executed.

Laws 1993, SB 423, c. 330, § 21, emerg. eff. July 1, 1993; Amended by Laws 1996, SB 811, c. 326, § 5, emerg. eff. July 1, 1996; Amended by Laws 1997, HB 1224, c. 287, § 16, emerg. eff. July 1, 1997 (superseded document available).