Creation of Fund

There is hereby established the Physician Education Debt Repayment Fund (Fund), in which awards granted to participants of the Physician Recruitment and Retention Program shall be financed. The Fund shall be held in an account separate and apart from all other accounts and funds of the government of Guam, and shall not be subject to the transfer authority of I Maga’lahen Guåhan. The Board is authorized to accept gifts, devises, bequests, donations, and all other kinds of contributions for the purposes of the Fund. Up to Two Million Dollars ($2,000,000) from the Healthy Futures Fund shall be annually transferred to the Physician Education Debt Repayment Fund, and any direct appropriations, from any source, by I Liheslaturan Guåhan. Repayments to the Fund pursuant to § 52107, and any unused amounts, shall remain in the Fund. Funds in the Physician Education Debt Repayment Fund shall only be used as awards for participants of the Program, except that not more than Fifty Thousand Dollars ($50,000) shall be used to subsidize the administrative costs for the administration of this Program. ---------- COL372014