1. A. The Board shall enter into no agreement for the acquisition, lease or purchase of any land or for any other purpose whatsoever which shall pledge the credit of, or obligate in any manner whatsoever, the state to pay any sum of money or other thing of value for such purpose, and the said Board shall not in any manner or for any purpose pledge the credit of or obligate the state to pay any sum of money. The said Board may receive, hold the custody of and exercise control of any lands, and set aside into a separate, distinct and inviolable fund the proceeds which may be derived from the sales of the products of such lands, the use thereof in any manner, or the sale of such lands save the twenty-five percent (25%) of the proceeds thereof to be paid into the state school fund. The Board may use and apply such funds for the acquisition, use, custody, management, development or improvement of any lands vested in or subject to the control of such Board. After full payment has been made for the purchase of a state forest, to the federal government or other grantor, then fifteen percent (15%) of the gross receipts from a state forest shall be paid to the county or counties in which it is located in proportion to the acreage located in each county for use by the county or counties for school purposes; except that payment of gross receipts shall only apply to the state forest lands and not other lands listed in Section 301.

2. B. The Commissioners of the Land Office are hereby authorized and directed to make and enter into a lease for a period of ten (10) years, with privilege of renewing at the end of each ten-year period until otherwise provided by law, with the State Department of Agriculture, Forestry Division, the following described land and premises:

   1. 1. The lessee shall maintain on such property the administrative headquarters for Fire Protection Unit No. One of the Forestry Service;
   2. 2. The lessee shall maintain, repair and preserve all improvements located on said described lands;
   3. 3. The lessee shall maintain and carry out a forestry plan for the entire two hundred forty-acre tract, do the necessary planting and other forestry work to bring the stand of timber up to normal and to restore such timber growth to its maximum productive value;
   4. 4. The lessee shall take all necessary and proper measures to protect the area from fire and theft;
   5. 5. The lessee shall formulate and carry out a plan for harvesting of the timber so that maximum financial return may be realized for the state, and that the maximum value of the culture shall be realized for demonstration purposes;
   6. 6. Unless otherwise changed by law, the annual rental payable annually of five percent (5%) per year of the appraised value of said lands without improvement shall be paid out of funds appropriated to the lessee into the common school fund of this state.

   Lots One (1) and Two (2) and the East Half (E 1/2) of the Northwest Quarter (NW 1/4) and the West Half (W 1/2) of the Northeast Quarter (NE 1/4) of Section Seven (7), Township Six (6) South, Range Twenty-five (25) East of the Indian Meridian, containing two hundred forty (240) acres, more or less, situated in McCurtain County, State of Oklahoma. Such lease shall contain the following provisions in addition to any which may be agreed upon by the Commissioners of the Land Office and the State Department of Agriculture, Forestry Division:

Laws 1971, c. 349, § 302, emerg. eff. June 24, 1971.