72-6506. Payment of grants; disposition and use of grant moneys.
72-6506
72-6506. Payment of grants; disposition and use ofgrantmoneys.The payment to theuniversity of the total amount of its stategrantshall be madein substantially equal amounts on August 1 andJanuary 1 of each year, or as soonthereafter as possible. The state boardshall certify, on or before July 20 and December20 of each year, tothe director of accounts and reports the amount due theuniversity from the state general fund on August 1 or on January1, as the case may be, andthe director shall draw a warrant upon the state treasurer infavor of the university for suchamount. Upon receipt of such warrant, the treasurer of the university shallcredit the same to the general fund of the university. All moneys receivedby the university under this section shall be used to pay currentoperatingexpenses of the university, and shall not be used for the making of capitalimprovements.
History: L. 1961, ch. 365, § 6; L. 1969, ch. 310, § 41;L. 1987, ch. 273, § 3;L. 1988, ch. 274, § 8;L. 1991, ch. 225, § 3;L. 1999, ch. 147, § 64; July 1, 2000.