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Section XI-2: Permanent school fund - How constituted - Use - Reimbursement for
losses.
All proceeds of the sale of public lands that have heretofore
been or may be hereafter given by the United States for the use
and benefit of the common schools of this State, all such per
centum as may be granted by the United States on the sales of
public lands, the sum of five million dollars appropriated to the
State for the use and benefit of the common schools in lieu of
sections sixteen and thirty-six, and other lands of the Indian
Territory, the proceeds of all property that shall fall to the
State by escheat, the proceeds of all gifts or donations to the
State for common schools not otherwise appropriated by the terms
of the gifts, and such other appropriations, gifts, or donations
as shall be made by the Legislature for the benefit of the common
schools, shall constitute the permanent school fund, the income
from which shall be used for the maintenance of the common
schools in the State. The principal shall be deemed a trust fund
held by the State, and shall forever remain inviolate. It may be
increased, but shall never be diminished. The State shall
reimburse said permanent school fund for all losses thereof which
may in any manner occur, and no portion of said fund shall be
diverted for any other use or purpose.
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