To the end that provision be made for the adequate payment of the principal of and interest on the bonds, the board shall be empowered as follows:

1. (1) To immediately establish a bond reserve fund for the college for whom bonds are to be issued.
2. (2) To impose a special student fee, in addition to all other fees and charges, upon each person at such college under such conditions as the board shall determine.

HISTORY: 1978 Act No. 646, Section 5.