The commissioner may, subject to the approval of the board of regents, finance the initial costs to establish the plan established pursuant to 20-25-1401 by using any of the following methods:
(1) authorizing a long-term loan of university funds. The loan must bear interest at a rate equivalent to the previous fiscal year's average rate of return on the board of investments' short-term investment pool.
(2) issuing and selling bonds and notes in whole or in part for this purpose; or
(3) using any other lawful means, including the assessment of student fees.