§ 48-23-136 — Pledge of revenue.

Notwithstanding any other provision of law, for the payment of the loan and the interest thereon, there is annually pledged all revenues derived from the sale of timber from Forestry Commission lands which exceed the amount of one hundred eight thousand, six hundred seventy dollars to be credited to the General Fund of the State and those funds designated for allocation to counties under the provisions of SECTION 48-23-260 of the 1976 Code, and all donations and revenues made available to the Commission for this purpose. Each year, after allocation of revenue from timber sales to the General Fund, counties, and the payment of principal and interest on the loan, any remaining funds may be used for the reforestation of Forestry Commission lands cut pursuant to this section and SECTION 48-23-135. Any unexpended balance at the close of each fiscal year must be carried forward and expended in accordance with the provisions of this section and SECTION 48-23-135.

Legislative History

HISTORY: 1983 Act No. 66, SECTION 2.