There is created a fund to be known as the Land and Water Conservation Fund. All money made available to the fund for matching purposes by state appropriations shall be remitted to the State Treasurer for credit to such fund. Money in the fund shall be used by the Game and Parks Commission under the provisions of Public Law 88-578, 88th Congress, for financing administrative and project costs thereunder. The Game and Parks Commission may make grants-in-aid to political subdivisions of the state from money made available for matching purposes by state appropriations in amounts not exceeding twenty-five percent of the cost of approved projects submitted by such political subdivisions. Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.