A school may establish an international baccalaureate programme fund or an advanced placement fund to receive donations or grants from individuals or from private corporations, associations or other artificial entities, both nonprofit and for profit, who desire to help support an international baccalaureate programme or an advanced placement program offered or attempted to be established by the school. Monies in such fund shall be used solely for academic enhancement in support of the program for which the fund was created. The principal of each school establishing a fund shall appoint a committee which shall be responsible for the determination of the use of funds for the program for which the fund was created.
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