The state treasurer is hereby designated and appointed custodian of all moneys received by the state from the appropriations made by the "Smith-Hughes Act," and he is authorized to receive and to provide for the proper custody of the same, and to make disbursements thereof in the manner provided for in said act and for the purposes therein specified. He shall also pay out any moneys appropriated by the State of Mississippi for the purpose of carrying out the provisions of Sections 37-31-1 through 37-31-15 upon the order of the state board of education.