The state board of social welfare, if it proceeds under this section, shall advertise for sealed bids on the real estate described in Kan. Stat. Ann. § 76-1719 for not less than thirty (30) days by publications in a newspaper of general circulation in Atchison county, Kansas, and authorized by law to publish legal notices. Such sale shall be made to the highest responsible bidder, except that said board of social welfare may reject any and all bids, and in any such case, any bids may be called for as in the first instance. Each bid shall be accompanied by a certified check in the amount of five percent (5%) of such bid which sum shall be forfeited in case of default by any bidder whose bid is accepted. In no event shall such real estate be sold for less than three-fourths (3/4) of the amount of the appraisement thereof. When such real estate shall be so sold, the proceeds thereof, after deduction of the expenses of such sale, shall be paid into the state treasury and be credited to the general fund of the state.