The governing board is authorized to establish a “fund for excellence” trust fund into which gifts, grants, and special appropriations by the General Assembly intended for such purpose may be deposited. The governing board may also deposit into this fund proceeds from the sale of surplus property. Investment income from moneys in this fund shall be used only to enhance academic programs of the institutions.
Effective: July 15, 1982
History: Created 1982 Ky. Acts ch. 391, sec. 17, effective July 15, 1982.