2005 Idaho Code - 33-5003 — RULE OF CONSTRUCTION

                                  TITLE  33
                                  EDUCATION
                                  CHAPTER 50
                      MANAGEMENT OF INSTITUTIONAL FUNDS
    33-5003.  RULE OF CONSTRUCTION. Section 33-5002, Idaho Code, does not
apply if the applicable gift instrument indicates the donor's intention that
net appreciation shall not be  expended. A restriction upon the expenditure of
net appreciation may not be implied from a designation of a gift as an
endowment, or from a direction or authorization in the applicable gift
instrument to use only "income," "interest," "dividends," or "rents, issues or
profits," or "to preserve the principal intact," or a direction which contains
other words of similar import. This rule of construction applies to gift
instruments executed or in effect before or after the effective date of this
chapter.