85-317. State colleges; endowment fund; source; investment.

All the lands remaining unsold of the twenty sections appropriated as an endowment fund for the state colleges and all the endowment fund derived from the sale of such lands are hereby confirmed as such endowment, to be forever used for this purpose. All such money derived from federal grants shall be invested in the manner provided by law for the investment of the permanent school fund of the state, in the same kind of securities and by the same officers charged with that duty pursuant to section 72-202 as may from time to time be amended by the Legislature.

Source:Laws 1881, c. 78, sub. XIII, § 12, p. 375; R.S.1913, § 7069; C.S.1922, § 6704; C.S.1929, § 85-315; R.S.1943, § 85-317; Laws 1947, c. 354, § 1(1), p. 1105; Laws 1969, c. 852, § 13, p. 3203; Laws 1983, LB 238, § 3.