(a) Upon approval of a proposal by the committee and subsequently by the commission, the committee shall then enter into a contractual relationship with the applicant for the research grant within the limit of the funds available therefor and subject to the following limitations:

1. (1) all grants so provided shall be used for the direct cost of approved projects and shall not be used to supplant funds otherwise available to the applicant, to the institution with which he is affiliated, or for the general cost recoveries that are rightfully the prior obligation of the institution to which the research grant is made;
2. (2) no funds shall be expended for the acquisition, construction or renovation of capital facilities without specific prior written approval by the committee;
3. (3) payments shall be made upon certified vouchers submitted to the committee and prepared in a format satisfactory to the committee and to the commission.