Section 29-7-14 - Proceeds from leases of sixteenth section school lands or lieu lands located in area defined as coastal wetlands

That the state mineral lease commission is hereby authorized to pay to the proper local taxing district in which are located sixteenth section school lands or lieu lands that fall within the definition of coastal wetlands, that portion of funds received from leases entered into or royalties received from the exploring or exploiting of oil, gas or other minerals on such lands. Such monies shall be paid to the local taxing district entitled to such funds under the law and used for school purposes.Laws, 1978, ch. 403, § 1, eff. 3/23/1978.