257B.1A Permanent fund.
158 words·~1 min read·
/ia/chapter-257b-school-funds/257b-1a·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The permanent school fund, the interest of which only can be appropriated for school purposes, shall consist of:
1. Five percent of the net proceeds of the public lands of the state.
2. The proceeds of the sale of the five hundred thousand acres of land granted the state under the eighth section of an Act of Congress passed September 4, 1841, entitled: “An Act to appropriate the proceeds of all sales of public lands, and to grant pre-emption rights”.
3. The proceeds of all intestate estates escheated to the state.
4. The proceeds of the sales of the sixteenth section in each township, or lands selected in lieu thereof.
5. All other moneys by law credited to the permanent school fund.
[R60, §1962, 1964; C73, §1837, 1839; C97, §2838; C24, 27, 31, 35, 39, §4469; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §302.1]
C93, §257B.1
C2001, §257B.1A
Referred to in §257B.6, 257B.9