The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
37-524 - Agricultural and mechanical colleges land fund and school of mines land fund; composition; use
37-524. Agricultural and mechanical colleges land fund and school of mines land fund; composition; use
A. After any appropriation pursuant to section 37-527, the agricultural and mechanical colleges land fund, and the school of mines land fund, shall separately consist of the proceeds of:
1. All lands granted to the state by the United States for the respective purposes named.
2. All property donated by individuals for like 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 donated for such purposes.
B. The funds provided for in this section shall be and remain perpetual funds for the benefit and support of the agricultural and mechanical colleges and the schools of mines at the universities and distributions from the funds pursuant to article X, section 7, Constitution of Arizona together with the money derived from the rental of the lands and property, including interest and accrued rent for that year credited pursuant to section 37-295, shall be used.