A fund known as the State Airports Development Fund is hereby created. The following shall be deposited in the fund to the credit of the department: (1) The revenue received from all taxes levied on aircraft fuel and other aeronautical facilities or services or persons engaged in aeronautical activities. (2) All other funds appropriated or allocated by the state specifically for the engineering, construction, expansion, improvement, maintenance, and operation of airports either alone or jointly with municipalities, counties, or airport authorities of the state or with the federal government, or both. (3) The proceeds from the sale of all bonds which may be issued for the aforementioned purposes. (4) Any grants and donations received pursuant to Section 23-1-361.
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