The proceeds of any contribution made by any county under the provisions of Section 37-115-69, including the proceeds from the sale of any bonds issued for such purposes, shall be paid by the board of supervisors of such county into the state treasury into a special fund to the credit of the board of trustees of state institutions of higher learning, and shall thereafter be utilized and expended by said board of trustees of state institutions of higher learning in the construction, erection and equipping of educational facilities in such county to be utilized by the University of Mississippi.
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