Oklahoma § 70-3904 - School land funds - Proceeds of Section Thirteen and

§ 70-3904. School land funds - Proceeds of Section Thirteen and

indemnity lands - Disposition and distribution - Purposes for which

Section Thirteen Fund and New College Fund may be expended.

Oklahoma Statutes - Title 70. Schools

A. The income, interest, rentals and proceeds of the sale of

Section Thirteen in this state, and any indemnity lands in lieu of

Section Thirteen which were granted to the state for the use and

benefit of the University of Oklahoma, Oklahoma State University,

the Normal Schools, the University Preparatory School, and Langston

University, shall be divided and distributed as follows:

To the University of Oklahoma and the Northern Oklahoma College,

one-third (1/3); the University of Oklahoma to receive nine-tenths

(9/10) of said one-third (1/3) and the Northern Oklahoma College to

receive one-tenth (1/10) of said one-third (1/3); to the Oklahoma

State University and Langston University, one-third (1/3); the

Oklahoma State University to receive nine-tenths (9/10) of said onethird (1/3), and Langston University to receive one-tenth (1/10) of

said one-third (1/3); to the University of Central Oklahoma, East

Central University, Northeastern State University, Northwestern

Oklahoma State University, Southeastern Oklahoma State University,

Southwestern Oklahoma State University, Oklahoma Panhandle State

University, University of Sciences and Arts of Oklahoma, and Cameron

University, the Normal Schools, one-third (1/3), the same to be

equally divided among said state colleges, provided, that in the

event of the establishment of additional similar state colleges,

such additional state colleges shall share equally with the other

state colleges in the division and distribution of the one-third

(1/3) last above mentioned. In the event of the sale of Section

Thirteen, or any portion thereof, the proceeds of said sale shall be

divided and distributed among said institutions in the same manner,

proportion and amount as hereinbefore indicated for the division and

distribution of the interest, income, rentals or proceeds thereof of

said land; provided, that the said lands so reserved, or the

proceeds of the sale thereof or of any indemnity land granted in

lieu of Section Thirteen, shall be safely kept or invested and

preserved by the state as a trust, which shall never be diminished,

but may be added to, and the income, interest and rentals thereof,

shall be used exclusively for the benefit of said educational

institutions. Such additional institutions shall remain under the

exclusive control of the state, and no part of the proceeds arising

from the sale or disposal of any land granted for educational

purposes, or the income or rentals thereof, shall be used for the

support of any religious or sectarian school, college or university,

and no portion of the funds arising from the sale of Section

Thirteen or any indemnity land, shall ever be diverted either

temporarily or permanently from the purpose for which said lands

were granted to the state.

B. The state educational institutions eligible for

participation in the Section Thirteen Fund and the new college fund

may expend monies in such funds from time to time as needs arise for

the construction and purchase of buildings, for the purchase of

Oklahoma Statutes - Title 70. Schools

equipment, and for other capital additions. The provisions of this

section shall be cumulative to existing laws.

Added by Laws 1965, c. 396, § 904. Amended by Laws 1987, c. 227, §

15, operative July 1, 1987; Laws 1990, c. 218, § 7, eff. July 1,

1991; Laws 1992, c. 324, § 24, eff. July 1, 1992; Laws 1998, c. 246,

§ 37, eff. Nov. 1, 1998.