Section 1040 - Certain lands to be soldA. The Commissioners of the Land Office shall dispose of, sell and convey, subject to the limitations, exceptions, conditions, rules, regulations and instructions, provided by law, except where the land is embraced in any reservation specifically reserved from sale for any special purpose, all the following enumerated and described school and public lands of this state: 1. All lands owned by this state, reserved, granted, and taken in lieu of sections numbered sixteen, thirty-six, thirteen and thirty-three and known as indemnity lands. When the lands as described in this paragraph or any part of the lands are sold and conveyed, the proceeds derived therefrom shall be prorated among the several funds as their interest may appear, and used as provided by law;2. All lands embraced in sections numbered thirty-three in that part of the state formerly known as Oklahoma Territory, and granted to the state for charitable and penal institutions and public buildings. All the money derived from the sale of any or all of the lands described in this paragraph shall be apportioned and disposed of as may be provided by law; and3. All lands granted to this state by the United States under and by virtue of Section 12 of the Enabling Act for the following purposes, namely: a. for the benefit of the Oklahoma University, two hundred fifty thousand (250,000) acres,b. for the benefit of Oklahoma State University, two hundred fifty thousand (250,000) acres,c. for the benefit of the University Preparatory School, one hundred fifty thousand (150,000) acres,d. for the benefit of Langston University, one hundred thousand (100,000) acres, and e. for the benefit of the normal schools now established or which may be established, three hundred thousand (300,000) acres. All money derived from the sale of any of the lands described in this paragraph shall be invested for the state in trust, and interest thereon shall be used exclusively and as above apportioned in the support and maintenance of the schools.B. If any tract, part or parcel of any of the land enumerated and described in this section, was or shall be returned to the Commissioners of the Land Office by a board of appraisers, including those tracts of land embraced in sections numbered thirteen, sixteen and thirty-six, and otherwise herein reserved from sale, that are now platted and occupied and leased directly from the State of Oklahoma for townsite purposes, as being more valuable for townsite than for agricultural purposes, then the tract, part or parcel of the land shall be reserved by the Commissioners of the Land Office from sale and disposed of subject to the conditions of this title.Okla. Stat. tit. 64, § 1040
R.L. 1910, §7144; Amended by Laws 1998 , HB 3213, c. 246, §28, eff. 11/1/1998; Amended by Laws 2010 , HB 3026, c. 41, §30, emerg. eff. 4/2/2010; Renumbered from 64 O.S. §181 by Laws 2010 , HB 3026, c. 41, §92, emerg. eff. 4/2/2010.