Notwithstanding any other provision of law, funds and the proceeds of the trust assets which are not authorized to be administered by the secretary of agriculture of the United States under the provisions of § 1-53-24 must be received by the commissioner of the Governor's Office of Economic Development under the application made pursuant to § 1-53-23 , and deposited by the commissioner with the state treasurer for use by the commissioner of the Governor's Office of Economic Development for the rural rehabilitation purposes permissible under the charter of the now dissolved South Dakota Rural Rehabilitation Corporation, as may from time to time be agreed upon by the commissioner of the Governor's Office of Economic Development with the approval of the Governor and the secretary of agriculture of the United States, subject to the applicable provisions of Public Law 499, or for the purposes of § 1-53-24 .
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