37-524. Agricultural and mechanical colleges
land fund and school of mines land fund; composition; use
A. After any appropriation pursuant to section 37-527, the agricultural and
mechanical colleges land fund, and the school of mines land fund, shall separately
consist of the proceeds of:
1. All lands granted to the state by the United States for the respective purposes
named.
2. All property donated by individuals for like purposes, unless the terms of the
donation otherwise provide.
3. The sale of timber, mineral, gravel or other natural products or property from
lands granted or donated for such purposes.
B. The funds provided for in this section shall be and remain perpetual funds for
the benefit and support of the agricultural and mechanical colleges and the schools of
mines at the universities and distributions from the funds pursuant to article X, section
7, Constitution of Arizona together with the money derived from the rental of the lands
and property, including interest and accrued rent for that year credited pursuant to
section 37-295, shall be used.
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