(a) The state board of regents is hereby authorized and empowered, for and on behalf of the Emporia state university, to sell and convey all of the rights, title and interest in and to all of the following described real estate, and any improvements thereon, located in Lyon county, Kansas, or any part or parts thereof:

(1) A tract of land described as follows: The south 1/2 of the southeast quarter of the northeast quarter of the northwest quarter (S 1/2 SE 1/4 NE 1/4 NW 1/4) of section 11, township 19 south, range 11 east of the 6th P.M. in Lyon county, Kansas;

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(2) all of the south 1/2 of the following described tract of land: Lot No. 12 and No. 14 in Goodrich’s subdivision of the east 1/2 of the northwest quarter (E 1/2 NW 1/4) of section 11, township 19 south, range 11 east of the 6th P.M. in Lyon county, Kansas, except a part of lot 14 described as follows: Commencing at the northeast corner of lot 14; thence south 318 feet; thence west 574?1/2 feet to the west line of the lot; thence north 318 feet to the northwest corner thereof; thence east to the place of beginning according to the recorded plat thereof; and

(3) a tract of land described as follows: The north 1/2 of the northeast quarter of the southeast quarter of the northwest quarter (N 1/2 NE 1/4 SE 1/4 NW 1/4) of section 11, township 19, range 11 east of the 6th P.M., also known and described as lot 8 in Goodrich’s subdivision, in Lyon county, Kansas, except the east 40 feet thereof and except that part of the tract taken by the state of Kansas in condemnation case No. 25582.

(b) Conveyance of such rights, title and interest in such real estate, and any improvements thereon, shall be executed in the name of the state board of regents by its chairperson and executive officer. Any proceeds from sale of such real estate, and any improvements thereon, shall be deposited in the state treasury to the credit of an appropriate account of the restricted fees fund of Emporia state university. Such proceeds shall be applied to or utilized for the repair, remodeling, construction or reconstruction of institutional facilities located on the campus of Emporia state university.

(c) No sale and conveyance of real estate, and any improvements thereon, authorized by this section shall be made by the state board of regents until the deeds, titles and conveyances have been reviewed and approved by the attorney general.