When the state superintendent of public education shall have received from the county superintendent of education of any county a statement showing that an agricultural high school has been located by the county board of education, that the land has been acquired, that necessary levy has been made by the board of supervisors, and that suitable buildings have been erected, including adequate boarding facilities, then the state superintendent shall visit such school and, after a thorough inspection thereof, make a full and complete report of said inspection to the state board of education. Should it appear to the state board of education that it would be to the interest of the state, and funds have been appropriated therefor, the board shall draw an order on the state auditor in favor of the county depository or depositories for the sum of One Thousand Dollars ($1,000.00) for each county supporting an agricultural high school, for the use of the trustees of the said high school or schools. The auditor shall issue his warrant annually on the depository for this amount, but not more than One Thousand Dollars ($1,000.00) for each county supporting an agricultural high school shall be paid to any one (1) school in one (1) year for agricultural high school purposes, except as hereinafter provided.

All schools failing to make an average attendance of forty (40) or more students for the previous session shall receive only One Thousand Dollars ($1,000.00), as provided above.

After Twenty-five Thousand Dollars ($25,000) each year has been set aside as an equalizing fund to be disbursed by the state board of education where the need is greatest, which amount shall be distributed without reference to attendance, the remainder shall be distributed on the per capita basis of the average boarding attendance of the previous session. However, no school shall receive more than Five Thousand Five Hundred Dollars ($5,500.00) a year of the remainder.

Any consolidated school carrying four (4) years’ accredited high school work, doing work in vocational agriculture and vocational home economics, as defined by the director of the division of vocational education, shall receive the following amounts under conditions named:

Schools having enrolled not less than twenty (20) all-day pupils in these classes shall receive Two Hundred and Fifty Dollars ($250.00) annually.

Schools having enrolled not less than thirty (30) all-day pupils in these classes shall receive Five Hundred Dollars ($500.00) annually.

Schools having enrolled not less than forty (40) all-day pupils in these classes shall receive Seven Hundred Fifty Dollars ($750.00) annually.

No aid shall be given an agricultural high school until the state board of education has approved the plans for the building and course of study for the same. The appropriations from the state treasury shall be made in such manner as to comply with the law, but the state aid may be withdrawn at any time, when the state board of education finds that a school is not being legally conducted for the purposes for which established.