All moneys paid to the State of Mississippi by the United States on account of leases of flood control lands under the provisions of the Flood Control Act, as amended June 28, 1938 (52 U.S. Statutes at Large, page 1221), shall be apportioned by the state treasurer to the several counties in which such flood control lands are located and from which the moneys were received by virtue of the lease of flood control lands, as may be determined by the United States, or department thereof, in settling with the state treasurer under the terms and provisions of the Flood Control Act.
The several sums so apportioned to each county shall be paid over by the state treasurer to the county depository, and fifty per cent (50%) of such funds shall be expended for the benefit of the public schools and fifty per cent (50%) of such funds shall be expended for the benefit of public roads of the county, or counties, in which such flood control lands are situated. Where no schools are located in any affected area entitled to moneys under the provisions of said Flood Control Act, then all of such moneys so apportioned to such affected area may be spent for the benefit of public roads in the area.
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