The board of regents is prohibited from creating any debt against the university, in any manner encumbering the same, or incurring any expense beyond its ability to pay from the annual income of the university for the current year.
Source: G.L. § 2774. G.S. § 3465. R.S. 08: § 6962. C.L. § 8033. CSA: C. 169, § 36. CRS 53: § 124-2-33. C.R.S. 1963: § 124-2-23.