TCA § 11-14-303 — Purpose

The general assembly recognizes the need to protect the endowment represented by the land and minerals owned by the state. These nonrenewable resources are held by the state in trust for the benefit of future generations. In recognition of the responsibilities of this stewardship, the general assembly is creating the natural resources trust fund. The purpose of the trust fund is to ensure that development of state-owned nonrenewable resources will proceed in a manner which is economically sound, and that revenues received from the disposal of those resources will be used for the long-term public interest.