Idaho State Statutes - Idaho Attorney Directory

(1) There is
established in the state treasury the agricultural college earnings reserve
fund. The fund shall be managed and invested by the endowment fund investment
board according to law and the policies established by the state board of land
commissioners. The fund shall consist of the following:
(a) All earnings of the agricultural college permanent endowment fund;
(b) Proceeds of the sale of timber growing on agricultural college
endowment lands;
(c) Proceeds of leases of agricultural college endowment lands;
(d) Proceeds of interest charged upon deferred payments on agricultural
college endowment lands or on timber on those lands; and
(e) All other proceeds received from the use of agricultural college
endowment lands and not otherwise designated for deposit in the
agricultural college permanent endowment fund.
(2) Moneys shall be distributed out of the agricultural college earnings
reserve fund only to support the beneficiaries of the agricultural college
endowment, including distributions by the state board of land commissioners to
the agricultural college permanent endowment fund and the agricultural college
income fund; provided, that funds shall not be appropriated by the legislature
from the agricultural college earnings reserve fund except to pay for
administrative costs incurred managing the assets of the agricultural college
endowment including, but not limited to, real property and monetary assets.

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