Proposed Revision to 1003.3.1 - Proceeds from Natural Resource Interest
1. The presidents of the
the Montana University System are authorized to deposit in Plant Funds the
proceeds from oil, gas, coal, minerals, timber or other natural resource interests
derived from certain real property owned by the units. Such proceeds will be dedicated to the
improvement of real property or physical plants of the respective units. The units
may invest the proceeds and the interest shall be added to the plant fund
2. This policy does not apply to real property held for investment purposes under the administrative authority of the State Department of Lands.
Item 30-005-R0281, Custodial Transfer of Natural Resource Interests to Unit Foundations for Management Purposes; Montana University System, April 13, 1981 (Rescinded); 35-001-R0482, Proceeds from Natural Resource Interests; Montana University System, April 16, 1982.