Donations, loans and deposits represent a pledge of state funds. The Louisiana Constitution under Article 7 Section 14 states:
§14. Donation, Loan, or Pledge of Public Credit
Section 14.(A) Prohibited Uses. Except as otherwise provided by this constitution, the funds, credit, property, or things of value of the state or of any political subdivision shall not be loaned, pledged, or donated to or for any person, association, or corporation, public or private.
College policy shall be that “no” funds or other property will be donated, loaned or pledged unless otherwise exempted by the constitution or other provision of the law.