396.370 - Appropriations for support and maintenance of System. - Nevada Statutes

396.370  Appropriations for support and maintenance of System.

      1.  The following money is hereby set aside and inviolably appropriated for the support and maintenance of the System, and must be paid out for the purposes designated by law creating the several funds:

      (a) The interest derived from the investment of all money from the sale of the 90,000 acres of land granted to the State of Nevada by the Act of Congress entitled “An Act donating Public Lands to the several States and Territories which may provide Colleges for the Benefit of Agriculture and the Mechanic Arts,” approved July 2, 1862 (c. 130, 12 Stat. 503).

      (b) The interest derived from the investment of all money from the sale of the 72 sections of land granted to the State of Nevada by the Act of Congress entitled “An act concerning certain Lands granted to the State of Nevada,” approved July 4, 1866 (c. 166, 14 Stat. 86), for the establishment and maintenance of a university.

      2.  Additional state maintenance and support of the System must be provided by direct legislative appropriation from the General Fund, upon the presentation of budgets in the manner required by law.

      [1:259:1913; A 1949, 288; 1943 NCL § 7740]—(NRS A 1957, 128; 1969, 1435; 1993, 345; 1999, 427)