Section 2. The commissioner of environmental management, in this chapter called the commissioner, with the approval of the governor and council, may accept on behalf of the commonwealth bequests or gifts to be used for the purpose of advancing the forestry interest of the commonwealth, under the direction of the governor and council, or for the laying out, construction or maintenance of state trails or paths, in such manner as to carry out the terms of the bequests or gifts. Said trust properties shall be known as the Forestry Trust and shall be used and expended under the direction of the commissioner and subject to his orders. Subject to the terms of such grant, gift, devise, or bequest, the commissioner may expend such funds without further appropriation whether principal or income. The commissioner may, subject to the approval of the deed and title by the attorney general, accept on behalf of the commonwealth gifts of land to be held and managed for experiment and illustration in forest management and for reforestation in accordance with such rules and regulations as the commissioner, with the approval of the governor and council, may prescribe. A donor of such land may reserve the right to buy back the land in accordance with such terms and conditions as may be agreed upon by and between such donor and the commissioner; but in the absence of such reservation in his deed of gift he shall not have such right.