(1) The Division of Forestry shall enter into no agreement for the acquisition, lease, or purchase of any land or for any other purpose whatsoever which shall pledge the credit of, or obligate in any manner whatsoever, the state to pay any sum of money or other thing of value for such purpose, and the said division shall not in any manner or for any purpose pledge the credit of or obligate the state to pay any sum of money.

(2) The division may receive, hold the custody of, and exercise the control of any lands, and set aside into a separate, distinct and inviolable fund, the proceeds which may be derived from the sales of the products of such lands, the use thereof in any manner, or the sale of such lands save the 25 percent of the proceeds thereof to be paid into the State School Fund as provided by law. The division may use and apply such funds for the acquisition, use, custody, management, development, or improvement of any lands vested in or subject to the control of such division. After full payment has been made for the purchase of a state forest, to the Federal Government or other grantor, then 15 percent of the gross receipts from a state forest shall be paid to the county or counties in which it is located in proportion to the acreage located in each county for use by the county or counties for school purposes.

(3)

(a) There is established within the Division of Forestry, the Forestry Lands Trust Fund, to be used as a nonlapsing fund for the purposes of this subsection. The purpose of this fund is to acquire lands adjacent to or surrounded by existing state forests, thereby improving management of state forests for public uses.

(b) The moneys in this fund are continually appropriated for the purposes of such land acquisition and the use, custody, management, development, or improvement of such lands vested in or subject to the control of the division. The fund may be credited with up to 10 percent of the annual gross receipts from state forests.

(c) Title of all lands acquired pursuant to this subsection shall be vested in the Board of Trustees of the Internal Improvement Trust Fund. Title shall be accompanied by evidence of marketable title and a survey meeting minimum technical standards for land surveys in Florida.

(d) The purchase price of land acquired pursuant to this subsection shall not exceed the certified appraised value. Appraisal reports are confidential and exempt from the provisions of s. 119.07(1) until an option contract is executed or, if an option contract is not executed, 30 days before a contract or agreement for purchase is considered for approval. If that negotiation is terminated by the division, the appraisal report shall become public record pursuant to s. 119.07(1). This exemption is subject to the Open Government Sunset Review Act in accordance with [Footnote 2] s. 119.14.

(e) Land acquisition provided for in this subsection is for voluntary, negotiated acquisition.