72-259. School lands; sale; proceeds; disposition.

(1) The Board of Educational Lands and Funds shall deposit the proceeds of the sales of educational lands with the State Treasurer for the benefit of the various funds as provided in this section.

(2) The proceeds of the sales of common school and saline educational lands shall be deposited with the State Treasurer for the benefit of the permanent school fund of the state.

(3) The proceeds of the sales of university educational trust lands shall be deposited with the State Treasurer for the benefit of the Permanent Endowment Fund referred to in section 85-123.

(4) The proceeds of the sales of state college educational trust lands shall be deposited with the State Treasurer for the benefit of the endowment fund referred to in section 85-317.

Source:Laws 1921, c. 81, § 3, p. 295; C.S.1922, § 5217; C.S.1929, § 72-237; R.S.1943, § 72-259; Laws 1996, LB 1205, § 4.

Cross References

Permanent school fund, see Article VII, sections 5 and 9, Constitution of Nebraska.