There shall be a "selected industrial feasibility fund," which fund shall be maintained in the state treasury as a separate fund. The Mississippi Agricultural and Industrial Board is authorized to receive appropriated funds from the legislature of the State of Mississippi and contributions and funds from the different political subdivisions of this state and area industrial development districts or organizations, and shall deposit all of said funds and contributions into this "selected industrial feasibility fund," and said Mississippi Agricultural and Industrial Board shall, in the manner now required by law, expend from said fund such sums of money necessary for the payment of feasibility studies required in connection with the provisions of Sections 57-11-61 through 57-11-69, so long as there is a balance in the said fund.