The northeast quarter of the southeast quarter of section 31, township 34, north, range 27, west of the sixth principal meridian; section 32 and lots 1 and 2, and the west half of the southeast quarter of section 33, and the west half of section 33, township 34, north, range 27, west of the sixth principal meridian; all in Cherry County, Nebraska, title to which is vested in the State of Nebraska, shall be leased by the Board of Educational Lands and Funds in the same manner as is provided for the leasing of the common school lands of the state; Provided, that the northeast quarter of the southeast quarter of section 31, township 34, north, range 27, west of the sixth principal meridian, Cherry County, Nebraska, together with all improvements thereon, may be sold by the board at public auction, as provided by section 72-258, and may be subdivided for the purpose of sale in such manner as the board may determine.