§ 116-40.1. Land scrip fund.
§ 116‑40.1. Landscrip fund.
The Board of Governors shall own and hold the certificates ofindebtedness, amounting to one hundred and twenty‑five thousand dollars($125,000), issued for the principal of the land scrip fund, and the interestthereon shall be paid to them by the State Treasurer semiannually on the firstday of July and January in each year for the purpose of aiding in the supportof North Carolina State University at Raleigh in accordance with the act of theCongress approved July 2, 1862, entitled, "An act donating public lands toseveral states and territories which may provide colleges for the benefit ofagriculture and mechanic arts." (1907, c. 406, s. 8; C.S., s. 5817; 1963, c. 448, s. 8; 1965, c. 213;1971, c. 1244, s. 9.)