§ 6-20-202 - Land Sales Fund. - Arkansas Statutes

6-20-202. Land Sales Fund.

When the Treasurer of State receives the following proceeds from the Commissioner of State Lands, it shall be the duty of the Treasurer of State to set aside that amount to the credit of the Land Sales Fund:

(1) The proceeds from the sale of all lands that have been or hereafter may be granted by the United States to this state and not otherwise appropriated by the United States to this state, and also all moneys, stocks, bonds, lands, and other property now belonging to any fund for purposes of education;

(2) The net proceeds of all sales of lands and other property and effects that may accrue to this state by escheat, from sales of estrays, from unclaimed dividends, or from distributive shares of the estates of deceased persons;

(3) Any proceeds of the sale of public lands which may have been, or may be, paid over to the state, Congress consenting;

(4) All the net proceeds of the sales of all state land, including land sold for taxes; and

(5) All grants, gifts, or devises.