§ 9-4-311 — Carey Act revenue

(a) The state treasurer shall create and maintain an
account within the permanent land fund. He shall deposit in the
account:
(i) All proceeds from the sale of lands acquired from
the United States of America pursuant to Public Law 582, enacted
by the United States congress August 13, 1954 (68 Stat. 703);
(ii) All royalties received from oil and gas and
other minerals in the lands; and
(iii) All proceeds from the sale of any and all other
materials in the lands which might not be classified as mineral.
(b) The income received from investments of the account
shall be deposited by the state treasurer in the emergency water
projects account as provided in W.S. 41-2-124(f), provided that
anytime the unencumbered, unobligated balance in the emergency
water projects account equals or exceeds ten million dollars
($10,000,000.00) the income received from investments shall be
deposited in the general fund. All monies derived from rentals
of the lands acquired under Public Law 582 (68 Stat. 703) and
from timber sales therefrom shall be deposited by the state
treasurer in the general fund, and shall be expended therefrom
only upon appropriation.