Receipts from the treasurer of the United States, paid to the state or its proper
officers pursuant to direction of an act of Congress relating to disposition of funds
received on account of the leasing of lands for flood control, navigation and allied
purposes, are to be allocated by the state auditor to each county in accordance with
the method of allocation specified by the federal government. Interest or other earnings accrued upon investment of the receipts pending allocation
thereof shall be allocated to the recipients of the allocations in proportion to each
recipient's allocation of the receipts. The state auditor shall transfer to the road commission fifty percent of the funds
so allocated to each county for the purpose of maintenance of feeder and state local
service roads in the area or areas of the county in which the flooded lands are located.
Fifty percent of the funds so allocated to any county in which the lands are located
are to be paid by the state auditor to the board of education of that county to be
expended by the board for the benefit of the public schools of the county.
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