There is established a child care programs special fund for the operation of child care programs established under § 304A-116 and the construction and renovation of child care centers established by the University of Hawaii. Fees charged for child care at child care programs, proceeds from donations to the university for child care programs, and proceeds from loans or other instruments of indebtedness for the construction or renovation of child care centers shall be deposited into the special fund. Expenditures from the special fund shall be made for the operation of child care programs and payment of principal and interest on obligations incurred for the construction or renovation of child care centers.