Federal Laws, Regulations And Rulings Affecting the Land-Grant Colleges of Agriculture And Mechanic Arts
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The interest shall be regularly applied without diminution to the endowment, support, and maintenance of at least one college, where the leading object shall be, without excluding other scientific and classical studies, and including military tactics, to teach such branches of learning as are related to agriculture and the mechanic arts. It is held that the proceeds from rentals, sale of timber rights, v.ater rights, or other privileges, and interest on deferred payments of purchase money parta...ke of the same character as the income from invested funds and must be devoted, without diminution, to the purposes as set forth above. It is held that instruction in the industries for women is included in instruction in agriculture and the mechanic arts. 4. The income from this fund is not a fiscal year or limited fund. It must remain forever at the disposal of the institution entitled to the benefit of the fund. Nor may it ever be covered into general State funds or used for general State purposes.
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