76-4,106. Sale of certain real property in Riley and Nemaha counties by board of regents; use of proceeds; approval by attorney general. (a) The state board of regents is hereby authorized and empowered, for and on behalf of Kansas state university of agriculture and applied science, to sell and convey all of the rights, title and interest in each of the following tracts of real estate, and any improvements thereon:
(1) Tract No. 1 is located in Riley county, Kansas, and is more particularly described as: The Southwest Quarter of the Northwest Quarter of Section 1, Township 10, Range 7, comprising 40 acres, more or less; and
(2) Tract No. 2 is located in Nemaha county, Kansas, and is more particularly described as: The Northeast Quarter of Section 34, Township 3, Range 14, comprising 160 acres, more or less.
(b) Conveyance of such rights, title and interest in such real estate, and any improvements thereon, shall be executed in the name of the state board of regents by its chairperson and executive officer. The deed for such conveyance may be by warranty deed or by quitclaim deed as determined to be in the best interests of the state by the state board of regents in consultation with the attorney general. Any proceeds from the sale of Tract No. 1 of such real estate, and any improvements thereon, shall be deposited in the state treasury and credited to the college of agriculture restricted use account of the restricted fees fund of Kansas state university of agriculture and applied science to be used to purchase land for agriculture research. Any proceeds from sale of Tract No. 2 of such real estate, and any improvements thereon, shall be deposited in the state treasury and credited to the appropriate account of the restricted fees fund of Kansas state university of agriculture and applied science to be used for student scholarships.
(c) No sale and conveyance of real estate and improvements thereon as authorized by this section shall be made by the state board of regents until the deeds and conveyances have been reviewed and approved by the attorney general and, if a warranty deed is to be the instrument of conveyance, a title review has been performed or title insurance has been obtained and the title opinion or the certificate of title insurance, as the case may be, has been approved by the attorney general.
History: L. 2001, ch. 29, § 1; Mar. 29.
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