A. The Arizona state parks heritage fund is established consisting of legislative appropriations, grants and donations.

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B. The Arizona state parks board shall administer the fund. Monies in the fund are continuously appropriated. On notice from the Arizona state parks board, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations.