The University of Vermont and the Vermont Agricultural College, with such other corporations as may hereafter become united therewith, are hereby united and constituted a body corporate, by the name of the "University of Vermont and State Agricultural College," for the purpose of carrying out the objects contemplated in their respective charters, and as such, shall be and remain a body corporate forever, and as such may hold and convey real and personal estate, have a common seal, and shall be recognized and utilized as an instrumentality of the State for providing public higher education, with all the rights and powers incident to corporations; and the General Assembly of the State of Vermont shall, from time to time, appropriate such sums as it deems necessary for the support and maintenance of the corporation.