Idaho State Statutes - Idaho Attorney Directory

(1) There is
established in the state treasury the mental hospital permanent endowment
fund. This fund is perpetually appropriated for the beneficiaries of the
endowment. 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 principal shall forever remain intact.
The fund shall be a permanent fund and shall consist of the following:
(a) Proceeds from the sale of lands granted to the state of Idaho under
the provisions of section 11 of the Idaho Admission Bill, 26 Stat. L. 215,
ch. 656, known at the time of admission as insane asylum lands, and lands
granted in lieu thereof;
(b) Proceeds of royalties from the extraction of minerals on mental
hospital lands owned by the state;
(c) Moneys allocated from the mental hospital earnings reserve fund.
(2) Provided however, that proceeds from the sale of mental hospital
lands may be first deposited into the land bank fund established in section
58-133, Idaho Code, to be used to acquire other lands within the state for the
benefit of beneficiaries of the mental hospital endowment. If the land sale
proceeds are not used to acquire other lands in accordance with section
58-133, Idaho Code, the proceeds shall be deposited into the mental hospital
permanent endowment fund along with any earnings on the proceeds.
(3) Earnings from the investment of the mental hospital permanent
endowment fund shall be distributed according to the provisions of section
57-723A, Idaho Code.

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