Disposition of proceeds.
The proceeds derived from the payment of taxes, fees, and penalties under
AS 43.50.010 - 43.50.180, and the license fees received by the department
shall be paid into a state fund entitled "School Fund," and
shall be used exclusively to rehabilitate, construct, and repair the state's
school facilities, and for costs of insurance on buildings comprising
school facilities during the rehabilitation, construction, and repair,
and for the life of the buildings.