(1) There is hereby established a university at Greeley, to be known as the university of northern Colorado. The university shall be a comprehensive baccalaureate and specialized graduate research university with selective admission standards.
(2) The university of northern Colorado shall be the primary institution for undergraduate and graduate degree programs for educational personnel preparation in the state of Colorado. The university shall offer master's and doctoral programs primarily in the field of education. The university has the responsibility to offer on a statewide basis, utilizing where possible and appropriate the faculty and facilities of other educational institutions, those graduate-level programs needed by professional educators and education administrators. The Colorado commission on higher education shall include in its funding recommendations an appropriate level of general fund support for those programs.
(3) As part of its mission as a graduate research university specializing in programs for educational personnel, the university of northern Colorado shall include the education innovation institute created in section 23-40-106 for the purposes described in section 23-40-106 (2).