Proceeds of sand and gravel contracts--Payment--Deposit

All funds received by the state under contracts pursuant to § 5-2-5 , shall be paid to the state treasurer under such rules as the commissioner of school and public lands shall promulgate pursuant to chapter 1-26 . The state treasurer shall deposit the funds into the school fund of the state. Source: SL 1921, ch 357, § 5; SDC 1939, § 15.0325; SL 1984, ch 34, § 5.