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... and other property granted by the Republic of State of Texas, to the University of Texas, or the University... with the proceeds of the sale of such lands, constitute the permanent university L- fund. All the income derived... therefrom shall be the available fund, and shall be applied to the support and development of the University... of Texas and to meet its obligations. The proceeds from the sale of University lands shall be invested... to the establishment of the University of Texas by an act of the Legislature of February 11th, :868; entitled "An Act