(a) The Board of Trustees of Southern Arkansas University is authorized to establish and operate in or near El Dorado a branch of Southern Arkansas University to be known as Southern Arkansas University, El Dorado Branch, and shall operate at the campus a program of junior college instruction, including offerings of community college instruction as contemplated by Acts 1973, No. 103 [repealed].
(b) The Arkansas Higher Education Coordinating Board is authorized to recognize the El Dorado Branch and shall have all powers and duties with respect to the El Dorado Branch as provided to the board for other state-supported community colleges and institutions of higher learning.
(c)
(1) The Board of Trustees of Southern Arkansas University shall serve as the Board of Trustees of Southern Arkansas University, El Dorado Branch.
(2) The Board of Trustees of Southern Arkansas University shall exercise all powers and duties for the El Dorado Branch campus as the Board of Trustees of Southern Arkansas University is authorized by law to exercise for the Magnolia campus of the university.
(3) The board of trustees may acquire land and improvements thereon by gift, grant, donation, or purchase and may rent or lease buildings and facilities as deemed necessary for the efficient operation of the El Dorado Branch.