Sec. 3. All powers, rights, privileges, duties, and obligations, statutory, contractual, or of whatever kind conferred by law upon the State Teachers College board or Indiana State College board:
(1) for the operation, maintenance, and financing of Indiana State University and its properties and facilities; or
(2) otherwise pertaining to the operation, maintenance, and financing of Indiana State University;
apply after June 30, 1961, to the board of trustees.