11. The proceeds from the sale of said bonds shall be known as “state institutional construction
fund”. Such fund shall be held for the demand of the state board of control of institutions
and agencies in accord with appropriations made therefor by the legislature and shall
be drawn upon and disbursed as other funds from the state treasury, and the balance
remaining in said “state institution construction fund” shall thereafter be allotted
to appropriations now or hereafter made by the legislature by the state house commission
upon application made by the state board of control of institutions and agencies.
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