All lands acquired by the Board on behalf of the state shall be in the custody of and subject to the jurisdiction, management and control of the said Board and, for such purposes and the utilization and development of such land, the said Board may use the proceeds of the sale of any products therefrom, the proceeds of the sale of any such lands, save the twenty-five percent (25%) of such proceeds which shall be paid into the state school fund, and such other funds as may be appropriated for use by the Board and, in the opinion of such Board, available for such uses and purposes.

Laws 1971, c. 349, § 303, emerg. eff. June 24, 1971.