The State Commission of Forestry may enter into agreements with the Federal Government or other agencies for acquiring by lease, purchase or otherwise such lands as in the judgment of the Commission are desirable for State forests. When lands are acquired or leased under this section the Commission may make expenditures from any funds not otherwise obligated for the management, development and utilization of such areas and may sell or otherwise dispose of products from such lands and make such rules and regulations as may be necessary to carry out the purposes of this section.