Section 34. University Fund

(1) The University shall establish, maintain and administer a fund to be called the University Fundi (2) The following moneys shall form part of, and be paid into, the University Fund, namely:- (a) Any contribution or grant by the State Government; (b) Income arising to the University from all sources including income from fees and charges; (c) Trusts, bequests, donations endowments and other grants, if any; (d) Such other moneys as may be prescribed by the Statutes. (3) The matter to which the University Fund may be applied and appropriated shall be those prescribed by this Act or the Statutes. (4) All expenses incurred under and in pursuance of any provision of this Act shall be met out of the University Fund. (5) The University shall have power to borrow, on the security of the University properties and with the concurrence of the State government, money for the purposes of the University.