All capital construction projects, including applicable financing plans, proposed by any nonprofit corporation created by the Board of Regents of the University of Nebraska or the Board of Trustees of the Nebraska State Colleges shall be submitted to the Legislature for review and approval or disapproval by the Legislature, or if the Legislature is not in session, the Executive Board of the Legislative Council, when (1) state general funds, (2) funds received by the University of Nebraska or any state college for the purposes of reimbursing overhead costs and expenses in connection with any federal or other grant or contract, (3) tuition, or (4) the state’s operating investment pool investment income constitutes all or any part of the funds used for the repayment of all or any part of the bonds of such nonprofit corporation. This section does not apply to any construction project or financing plan comprising part of the University of Nebraska Facilities Program or the State College Facilities Program to the extent that subsection (6) of section 85-421 and subsection (6) of section 85-424 have been complied with by the respective boards referenced in such sections.