(1) The Board of Trustees of Southern Arkansas University and the President of Southern Arkansas University shall operate SAU-Tech as a technical division of Southern Arkansas University.
(2) The board, through the president, is authorized to establish appropriate rules for the operation of SAU-Tech.
(3) The board shall operate the properties belonging to the division in accordance with the terms of and for the respective purposes as set forth in the conveyances and agreements by which the properties were donated to the Career Education and Workforce Development Board.