Mich. Comp. Laws § 21.211: University interest fund; interest credited; payment to university treasurer.

Sec. 1.

That the state treasurer shall credit to the university interest fund interest on the entire amount received by the state for university lands sold or contracted, the state treasurer shall pay that amount to the treasurer of the university upon his or her application, from time to time, as the interest may accrue and be required for the use of the university.