All that portion of the bed of the Ohio River, lying north of the thread of the stream, except accretions to islands privately owned, is declared to be vacant and unappropriated land, and the county judge/executive of each county bordering on the Ohio River may use or lease the river bed for county purposes, upon such terms and conditions as to him seem beneficial to the county. Any contract of leasing made by any such county judge/executive of such river bed for any sand and gravel rights for or on behalf of the county conveys full right and title to the lessee to the exclusive use of all sand and gravel deposits in the river bed to the extent embraced in the lease.
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