Section 59-118-80 - Conditions on matching giftsThe state matching gifts authorized in Section 59-118-70 are subject to the following conditions:
(1) qualifying disbursements to which the state matching gift is applied must come from the earnings of the endowment and not from principal or corpus;(2) the state matching funds must go directly into the college's or university's operating account to be spent only for the purposes authorized;(3) the college or university must make application to receive state matching funds on forms and under procedures prescribed by the Commission on Higher Education.1997 Act No. 155, Part II, Section 21A.