(a) The state board of regents is hereby authorized and empowered, for and on behalf of the university of Kansas, to sell and convey all of the rights, title and interest in the following parcel in Douglas County, Kansas:

Lots 7, 8, 9, 10, 11 and 12 in Block 13 in Lanes’ Second Addition to the City of Lawrence. Together with and subject to covenants, easements and restrictions of record.

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(b) Conveyance of such rights, title and interest in such real estate shall be executed in the name of the state board of regents by its chairperson and chief executive officer. When the sale is made, the proceeds thereof shall be deposited in the state treasury to the credit of an appropriate account of the restricted fees account of the university of Kansas to support the general operations of the university. The provisions of Kan. Stat. Ann. § 75-6609, and amendments thereto, shall not be applicable to the real estate sale authorized by this section.