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Current as of March 08, 2022 | Updated by FindLaw Staff
A. After any appropriation pursuant to § 37-527, the universities land fund shall consist of:
1. The proceeds of all lands granted to the state by the United States for university purposes.
2. All property donated by individuals for university purposes, unless the terms of the donation otherwise provide.
3. The sale of timber, mineral, gravel or other natural products or property from lands granted or given for university purposes.
B. The fund is and shall remain a perpetual fund for the benefit and support of the universities of this state and distributions from the fund pursuant to article X, section 7, Constitution of Arizona together with the monies derived from the sales of timber or timber products and the rental of the lands and property, including interest and accrued rent for that year credited pursuant to § 37-295, shall be used.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 37. Public Lands § 37-522. Universities land fund; composition; use - last updated March 08, 2022 | https://codes.findlaw.com/az/title-37-public-lands/az-rev-st-sect-37-522/
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