3. FEDERAL FUNDS
a. The Board or any state university may make and file applications for federal funds appropriated and made available by federal law for purposes related to the operation or function of the Board or such university. The Board, or any state university, may receive from the federal government, or any of its agencies, any funds made available under existing law, rules or regulations, or that may hereafter be made available. The Board, or any state university, may expend the same in accordance with the law, and the rules, regulations and requirements under which such funds are made available. Such moneys shall be expended only in accordance with and for the purposes specified in federal law. Federal funds shall be deposited in the State treasury.
b. State university requests for federal funds for capital improvements shall be in accord with Board policy on building and construction projects. (see section E.3.).