106-884. Disposition of revenues received from lands acquired.
All revenues derived from lands now owned or later acquired under the provisions of G.S. 106-882 to G.S. 106-886 shall be set aside for the use of the Department in acquisition, management, development, and use of such lands until all obligations incurred have been paid in full. Thereafter, fifty percent (50%) of all net profits accruing from the administration of such lands shall be applicable for such purposes as the General Assembly may prescribe and fifty percent (50%) shall be paid into the school fund to be used in the county or counties in which lands are located. (2011-145, s. 13.25(o).)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 74 - Acquisition and Control of State Forests and State Recreational Forests.
§ 106-870 - Policy and plan to be inaugurated by Department of Agriculture and Consumer Services.
§ 106-871 - Growing of timber on unused State lands authorized.
§ 106-872 - Use of lands acquired by counties through tax foreclosures as demonstration forests.
§ 106-873 - Procedure for acquisition of delinquent tax lands from counties.
§ 106-874 - Purchase of lands for use as demonstration forests.
§ 106-875 - Forest management appropriation.
§ 106-878 - Applications of proceeds from sale of products.
§ 106-879 - Legislative authority necessary for payment.
§ 106-880 - Distribution of funds from sale of forestlands.
§ 106-881 - License fees for hunting and fishing on government-owned property unaffected.
§ 106-883 - Expenditure of funds for development, etc.; disposition of products from lands; rules.
§ 106-884 - Disposition of revenues received from lands acquired.
§ 106-885 - State not obligated for debts created hereunder.