15-54.1-04. Tier III capital building funds - Matching requirements

15-54.1-04. Tier III capital building funds - Matching requirements The state board of higher education may allocate tier III capital building fund moneys to an institution only after the institution, excluding the university of North Dakota and North Dakota state university, provides one dollar of matching funds from operations or other sources for each one dollar from the university system capital building fund for the project. The state board of higher education may allocate tier III capital building fund moneys to the university of North Dakota and North Dakota state university only after the institution provides two dollars of matching funds from operations or other sources for each one dollar from the university system capital building fund for the project. An institution may not use tier I extraordinary repairs funding, tier II capital building fund moneys, or state funding appropriated for a specific capital project as matching funds under this section.