85-124 Temporary University Fund; source; use. - Nebraska Statutes

85-124. Temporary University Fund; source; use.The Temporary University Fund shall consist of (1) the proceeds of investments of the permanent fund; (2) the rental of the university and agricultural college lands leased, and the interest upon deferred payments on sales of the lands aforesaid; (3) the rentals or income of lands or other property donated without particular objects or uses being specified; and (4) such sums as may be from time to time appropriated to the use of the university. All money accruing to this fund is hereby appropriated for the maintenance of the university, including buildings and permanent improvements, and the same may be applied by the Board of Regents to any and all university needs except the income from donations made for particular purposes, which income shall be used and applied as hereinbefore specified only. SourceLaws 1869, § 21, p. 177; Laws 1877, § 1, p. 57; Laws 1899, c. 76, § 1, p. 325; R.S.1913, § 7102; Laws 1921, c. 24, § 4, p. 151; C.S.1922, § 6734; C.S.1929, § 85-120; R.S.1943, § 85-124.AnnotationsOne mill tax levy under former act was not repealed by revenue act of 1903. State ex rel. Ledwith v. Searle, 79 Neb. 111, 112 N.W. 380 (1907).