§ 113-42. Disposition of revenues received from lands acquired. - North Carolina Statutes

§ 113‑42. Disposition of revenues received from lands acquired.

All revenues derived from lands now owned or later acquired under theprovisions of G.S. 113‑40 to 113‑44 shall be set aside for the useof the Department in acquisition, management, development and use of such landsuntil all obligations incurred have been paid in full. Thereafter, fiftypercent (50%) of all net profits accruing from the administration of such landsshall be applicable for such purposes as the General Assembly may prescribe, andfifty percent (50%) shall be paid into the school fund to be used in the countyor counties in which lands are located. (1935, c. 430, s. 3.)