The Nebraska State Historical Society shall have authority to determine what historical events, personalities, sites, and traditions are of importance to the State of Nebraska and to justify the expenditure of public funds for the purchase of markers of uniform style, to be known as Highway Historical Markers; to procure such markers by expending any funds specifically appropriated by the Legislature for such purpose and to designate the approximate location of such markers; to preserve present markers; to accept gifts; and have power of eminent domain to be exercised as provided in sections 76-704 to 76-724. The Department of Transportation shall erect and maintain such markers and shall determine the exact location of such markers, having due regard for the safety and welfare of the motoring public.