Sec. 3-123f. Capital reserve accounts for the constituent units of the state system of higher education.
85 words·~1 min read·
/ct/title-3/chapter-34-comptroller/3-123fA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The State Comptroller shall establish a separate nonlapsing capital reserve account within the General Fund for each constituent unit of the state system of higher education. The proceeds of the sale, pursuant to section 4b-21 , of any surplus land or interest in land of any constituent unit of the state system of higher education shall upon deposit in the General Fund be credited to the capital reserve account of the appropriate constituent unit for the purpose of capital projects authorized by the constituent unit.