The revenues derived from such lands owned by the Department of Parks, Recreation, and Tourism shall be segregated by the State Treasurer for the use of the Department in the acquisition, management and development and use of such lands until all obligations incurred have been paid in full. Fifty per cent of all net profits accruing from the administration of such lands shall be applicable for such purposes as the General Assembly may prescribe and fifty per cent shall be paid into the school fund of the county in which such lands are located.