Arkansas Code Title 22. Public Property § 22-6-304. Sale--Rejection or confirmation by county court

(d)(1) Out of the purchase price, the sheriff shall pay the cost of the sale, retaining for his or her services two percent (2%) of the gross amount received by him or her for the sale of the land, and immediately transmit the balance of the purchase price to the county treasurer of the county for and on account of the school districts located in the township in which the land is located and to be distributed to the districts in the proportion that the territory of each district within the township bears to the total territory of the township.

(2) The school districts shall use the funds for any school purposes, including construction of buildings and retirement of bonds.

(e)(1) Upon presentation of the certificate of purchase to the Commissioner of State Lands, the purchaser of the lands or lots, as the case may be, and his or her heirs or assigns, shall be entitled to a deed from the Commissioner of State Lands for the land or lots described in the certificate, and the Commissioner of State Lands is authorized to make conveyance of any land or lots sold under and by virtue of this subchapter.

(2) The Commissioner of State Lands shall keep a full and complete record of all such sales and of the deeds so issued and shall keep as correct records of sales as the reports made to him or her may enable him or her to do.