(a) The secretary of revenue is hereby authorized to sell the following described state property located in Wallace county, Kansas, to wit: An improved tract of land situated in the Northeast Quarter (NE?1/4) of Section Three (3), Township Fourteen (14), South, of Range Forty-two (42), West of the Sixth Principal Meridian, in Wallace County, Kansas, more specifically described as follows: Beginning at a point established by measuring One Hundred and Seventy-five (175) feet in an easterly direction from the east edge of School Avenue on a line Two Hundred (200) feet due South of and parallel to the center of the Union Pacific Railroad track as presently constructed; thence continuing east on said line for a distance of One Hundred Forty (140) feet thence South for a distance of One Hundred Fifty (150) feet on a line parallel to the section line between Sections Two (2) and Three (3), Township Fourteen (14), South, of Range Forty-two (42); thence One Hundred Forty (140) feet West on a line parallel to the Union Pacific Railroad track; thence North to the point of beginning, together with all and singular the tenements, hereditaments and appurtenances thereunto belonging, or in anywise appertaining.

(b) Before any such sale shall be made, the interest in said property shall be appraised by three disinterested persons, acquainted with land values in the county where said land is located and appointed as provided in Kan. Stat. Ann. § 75-3043a. Such appraisement shall be in writing and filed with the secretary, and the cost of the appraisement shall be paid from the proceeds of the sale. Thereafter, the secretary shall solicit sealed bids by public notice inserted in one publication in a newspaper of general circulation in the county where said property is situated, and authorized by law to publish legal notices.

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Said sale shall be made to the highest responsible bidder who submits a bid within thirty days after publication of such notice, except that in no case shall said property be sold for less than the appraised value thereof. The secretary may reject any and all bids, and, in any case, new bids may be called for as in the first instance. When a bid has been accepted, the acceptance thereof shall be made a part of the records of the secretary. Upon acceptance of any such bid, a deed conveying such property shall be approved by the attorney general and shall be executed by the secretary, and duly acknowledged by the secretary before any officer authorized by law to take acknowledgments. Said deed shall contain a recital that all proceedings for the conveyance of such property were made in compliance with this section, and said recital shall be prima facie evidence that said proceedings were had in the manner and form recited. When such property is sold, the proceeds thereof, after deduction of the expenses of the sale and the cost of the appraisement of the property, shall be deposited in the state treasury and credited to the state general fund.