The institution known as the Thaddeus Stevens College of Technology, established and operated pursuant to the repealed provisions of the act of May 11, 1905 (P.L. 518, No. 429),¹ is hereby authorized to continue operations and to receive any State funds or aid to which it may be entitled. All lawful actions and expenditures made by said institution between October 4, 1978, and the effective date of this act are hereby ratified and approved by the General Assembly. All powers, rights, privileges, duties and obligations, statutory, contractual or otherwise, of Thaddeus Stevens College of Technology or its predecessors and its board of trustees and officers, heretofore existing and not otherwise changed or repealed by this act, shall continue in full force and effect.