(1) The State School Trust Fund shall be derived from the following sources:(a) The proceeds of all lands that have been or may hereafter be granted to the state by the United States for public school purposes;
(b) Donations to the state when the purpose is not specified;
(c) Appropriations by the state;
(d) The proceeds of escheated property or forfeitures; and
(e) Twenty-five percent of the sales of public lands which are now or may hereafter be owned by the state.
(2) The land comprising part of the State School Trust Fund shall not be subject to taxes of any kind whatsoever, but shall enjoy constitutional immunity therefrom, nor shall taxes of any kind be imposed thereon; nor, since not subject to tax, shall the state or any state agency be liable for taxes or the equivalent thereof sought to be imposed upon said land. All outstanding tax sale certificates against land of the State School Trust Fund are hereby canceled.
