(a) The Legislature finds and determines that the future economic development in the
state will depend in part upon research developed at the state institutions of higher
education, and enhanced research opportunities for state institutions of higher education
will promote the general economic welfare of the citizens of the state. In order to enhance the competitive position of state institutions of higher education
in the current environment for research and development, expenditures for equipment
and material for research projects must be handled in an expeditious fashion, and
the acquisition and utilization of research grants can be simplified and expedited
through the utilization of private corporations.
(b) The interest of the citizens of the state will be best met by agreements entered
into and carried out by the governing boards and corporations to provide research
assistance for state institutions of higher education. Therefore, in order to facilitate research and development grants and opportunities
for state institutions of higher education, it is appropriate to authorize the governing
boards to contract with private corporations organized for the purpose of providing
such services to state institutions of higher education.
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