The legislature shall appropriate moneys to maintain the University of Michigan,
Michigan State University, Wayne State University, Eastern Michigan University, Michigan
College of Science and Technology, Central Michigan University, Northern Michigan University,
Western Michigan University, Ferris Institute, Grand Valley State College, by whatever names
such institutions may hereafter be known, and other institutions of higher education established
by law. The legislature shall be given an annual accounting of all income and expenditures by
each of these educational institutions. Formal sessions of governing boards of such institutions
shall be open to the public.