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This entry was published on 2014-09-22
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Disposition of proceeds
Public Lands (PBL) CHAPTER 46, ARTICLE 4
§ 59-a. Disposition of proceeds. The proceeds from a sale or grant of
such lands shall be applied first to repay any expenditures made by the
office of general services from moneys appropriated to said office in
the first instance for the administration, management, utilization and
disposal of real property of the state and any rights or interests
therein and any balance of such moneys remaining after repayment of the
first instance expenditures shall be applied to the cost of the
improvement which renders such lands no longer necessary, and the
expenses incurred by the attorney general for searches and examination
of the title to such lands shall be deemed an item of the cost of
improvement. Any surplus from the sale of abandoned lands above the
cost of the entire improvement shall be applied to the sinking fund for
the payment of the improvement bonds.