The state board of regents is hereby authorized and empowered to exchange and convey the following described real estate located in Lyon county, Kansas: Commencing at a point 50 rods east and 20 feet south of the northwest corner of the northwest quarter of section 10, township 19, range 11 east of the 6th P.M., thence running parallel to the north line of said quarter section to a point 20 rods east, thence south at right angles 40 rods, thence west at right angles 20 rods, thence north at right angles to the place of beginning.

Such conveyance of real estate shall be executed in the name of the state board of regents by its chairman and executive officer and shall be delivered upon receipt of a good and sufficient warranty deed from the Emporia state college endowment association, inc., to the following described real estate located in Lyon county, Kansas: Commencing at a point on the north line of section ten (10), township nineteen (19) south, range eleven (11), 13?1/2 rods west of the northeast corner of the northwest quarter of said section 10; thence west on said section line 16?1/2 rods; thence south 20?1/4 rods; thence east 16?1/2 rods; thence north 20?1/4 rods to place of beginning, containing 2 acres and 14/160 acres, more or less, except a strip one hundred (100) feet in width off of the entire south side of the above described tract.

Before the land shall be conveyed by the state board of regents, the attorney general shall approve the instruments of conveyance of the association land by the Emporia state college endowment association, inc., to the state board of regents and the title to the association land.

The exchange and conveyances of real estate may be made on or after January 15, 1973.