Section 7. Proceeds of Land Grants for Colleges and Universities Constitute Permanent Funds

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Proceeds of Land Grants for Colleges and Universities Constitute Permanent Funds

The proceeds from the sale of lands reserved by Acts of Congress for the establishment or benefit of the state's universities and colleges shall constitute permanent funds to be used for the purposes for which the funds were established. The funds' principal shall be safely invested and held by the state in perpetuity. Any income from the funds shall be used exclusively for the support and maintenance of the respective universities and colleges. The Legislature by statute may provide for necessary administrative costs. The funds shall be guaranteed by the state against loss or diversion.

Summary: Education Article Revision

Election Date: November 4, 1986

Votes For Ratification: 238289

Votes Against Ratification: 160314

Percent for Ratification: 60%

Percent Against Ratification: 40%

Notes: This section was amended in a single vote along with Art. 7 Sec 17, Art. 10 Secs. 1,2,3,4,5,7,8,9,10,11,12,13; and Art. 13 Sec. 7

Amendment Source: 1986 SJR 1

Effective Date Source: https://vote.utah.gov/wp-content/uploads/sites/42/2023/09/1986Gen.pdf

Proceeds of Land Grants to Constitute Permanent Funds

The proceeds of the sale of lands reserved by an Act of Congress, approved February 21st, 1855, for the establishment of the University of Utah, and of all the lands granted by an Act of Congress, approved July 16th, 1894, shall constitute permanent funds, to be safely invested and held by the State; and except as provided by statute for the necessary cost of land administration, the income thereof shall be used exclusively for the support and maintenance of the different institutions and colleges, respectively, in accordance with the requirements and conditions of said Acts of Congress.

Summary: State school fund

Election Date: November 6, 1984

Votes For Ratification: 366702

Votes Against Ratification: 205077

Percent for Ratification: 64%

Percent Against Ratification: 36%

Notes:

Amendment Source: 1984 HJ Rs 1 and 4

Effective Date Source: https://vote.utah.gov/wp-content/uploads/sites/42/2023/09/1984Gen.pdf

Proceeds of Land Grants to Constitute Permanent Funds

The proceeds of the sale of lands reserved by an Act of Congress, approved February 21st, 1855, for the establishment of the University of Utah, and of all the lands granted by an Act of Congress, approved July 16th, 1894, shall constitute permanent funds, to be safely invested and held by the State; and the income thereof shall be used exclusively for the support and maintenance of the different institutions and colleges, respectively, in accordance with the requirements and conditions of said acts of Congress.

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