(1) There is created the Arkansas Statewide Energy Consortium consisting of the: University of Arkansas, Fayetteville;
(2) University of Arkansas, Little Rock; and
(3) Arkansas State University, Jonesboro.
(4) The consortium shall be headquartered at the University of Arkansas, Fayetteville, National Center for Reliable Electric Power Transmission.
(5) The University of Arkansas, Fayetteville, shall administer the Electrical Energy Advancement Program Fund.