The funds arising from the sale of public school, university, and agricultural college lands shall be held intact for the benefit of the funds for which such lands were granted and shall be known as permanent funds, and the interest and rentals only shall be expended for the purpose of the grant. The funds arising from the sale, leasing, and income of all other state lands shall be disposed of as provided by law but, in the absence of any other provisions, may be invested in the same manner as the school fund.
Source: L. 19: p. 650, § 27. C.L. § 1180. CSA: C. 134, § 79. CRS 53: § 112-3-35. C.R.S. 1963: § 112-3-35.