There is hereby established a university at Grand Junction, to be known as Colorado Mesa university, which shall be a general baccalaureate and graduate institution with selective admission standards. Colorado Mesa university shall offer liberal arts and sciences, professional, and technical degree programs and a limited number of graduate programs. Colorado Mesa university shall also maintain a community college role and mission, including career and technical education programs. Colorado Mesa university shall receive resident credit for two-year course offerings in its commission-approved service area. Colorado Mesa university shall also serve as a regional education provider.