(1) The department shall make a careful study of lands in the state suitable for park purposes and shall formulate and adopt a system for the proper development, preservation, and administration thereof.
(2) The department has the power to make rules and regulations and to promulgate the same for the management and control of this property for park purposes not inconsistent with the powers and restrictions herein.
(3) All revenue which may be derived from such property shall be accounted for by itemized annual statements, and shall go into the state treasury for state purposes; provided, that the commissioner, with the approval of the state building commission, may pledge the revenues derived from any park facility to pay for the lease or purchase of such park facility and the amounts which may be so pledged shall be applied as provided in such pledge.