(a) The expansion and reorganization provided for in this subchapter shall be effected by the Board of Trustees of the University of Arkansas as additional financial resources become available to it above the level of financial requirements for its present programs, including the Graduate Institute of Technology, the Industrial Research and Extension Center, and the Little Rock Graduate Center.
(b) Financial resources made available may be used for maintenance, operation, personnel services, construction of facilities, and improvement of the Arkansas Center for Research, Education and Technical Extension, and Graduate Education.
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