(a) The titles of the bridges and to all other real, personal, and mixed properties of bridge improvement districts which either are no longer under control by their commissioners by reason of the assumption heretofore of both the maintenance and control of their bridges by the State Highway Commission pursuant to the provisions of §§ 27-67-101, 27-67-201, or any other law, or which have heretofore fully discharged the principal and interest of their bonds and other indebtedness in part to the state aid received by them are divested out of the districts and of any political subdivisions of the state to which title may have nominally passed and fully and finally vested in the State Highway Commission. All such divestitures and vestings of title as may have heretofore occurred, either actually or ostensibly by reason of the assumption of both the maintenance and control of the bridges by the State Highway Commission, are fully ratified and confirmed as of the dates when they respectively occurred or ostensibly occurred. But all such divestitures and vestings, both actual or nominal and prospective, shall not extend to the titles to lands within the districts which were acquired by the districts through foreclosure of their liens thereon and were not subsequently disposed of, nor to the liens for delinquent assessments due the districts, and all such titles to lands so acquired and all such delinquent assessments are fully and finally cancelled.

(b) All funds on hand with the districts shall be paid over to the Treasurer of State for deposit as a nonrevenue receipt in the fund from which the Arkansas Department of Transportation is maintained, and there used for the same purposes for which other moneys in the fund may be used.