The governor and council, upon recommendation of the land use board, are authorized on behalf of the state: (a) To accept leases or enter into other agreements with the United States, or a duly authorized agency thereof, for the administration and maintenance of any such lands, with or without improvements, upon such terms and conditions as they may consider proper. Net income derived from any of such lands which may be designated for administration by the state forestry department shall be disposed of by the governor and council in the same manner as other income received from state forests and forestry reservations; and all income from other such lands shall be covered into the general funds of the state; (b) To accept deeds from the United States, of any such lands, upon such terms and conditions as they may consider proper.