In the event the state board of education, acting as the regents of the University of Idaho, shall elect the state treasurer as the treasurer of the regents of the university, the said state treasurer is hereby empowered and directed to act as the treasurer of the regents of the University of Idaho and as such officer of the regents of the university he shall receive and deposit all funds received by him in such general or special fund that the regents may find necessary and expedient to create for the lawful management of the finances of the University of Idaho and shall disburse all funds deposited with him as provided for in section 33-2808.
Idaho Code § 33-2809