The director shall deposit all funds with the treasurer of the Iowa state university of science and technology, which treasurer shall be responsible on the treasurer's bond for the same. Upon receipt of said moneys, the said treasurer shall issue duplicate receipts therefor, one of which the treasurer shall deliver to the director and the other to the secretary of the state board of regents. Said moneys shall be kept by said treasurer in a separate fund to be known as the serum fund; and the treasurer shall pay out from said fund, as other university funds are expended, but only for expenses directly connected with the maintenance and development of said laboratory and for grounds and buildings. Said grounds and buildings shall be used, when so authorized by the board of regents, for any purpose in connection with the study, control, or treatment of animal diseases.
[SS15, § 2538-w2; C24, 27, 31, 35, 39, § 4044; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 266.26]
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