The State Treasurer must pay to a county containing state forest lands an amount equal to twenty-five percent of the gross proceeds received by the State in each fiscal year from the sale of timber, pulpwood, poles, gravel, and other privileges on state forest lands within the county, except for the gross proceeds from land rentals. The provisions of this section are applicable to all state forest lands managed or operated by the State Commission of Forestry, whether they be owned in fee by the State or leased from the United States, but do not apply to state parks. The funds herein provided for must be spent for general school purposes. Where a particular state forest lies in more than one county or school district, the funds derived from the state forest and to be paid by the State Treasurer must be apportioned on the basis of land acreage involved. All funds distributed under the provisions of this section must be spent upon the approval of a majority of the county legislative delegation.