The state board of regents is hereby authorized and empowered to exchange and convey the following described real estate located in Riley county, Kansas: A tract of land in lot 7 of section 7, township 10 south, range 8 east of the 6th principal meridian, more particularly described as follows: Beginning at a point that is 837.7 feet north of the southeast corner of said lot 7 and on the east line of said lot 7; thence north 333.6 feet along the east line of said lot 7; thence west 514.6 feet; thence south 333.6 feet parallel to the east line of said lot 7; thence east 514.6 feet to the point of beginning, containing 3.94 acres more or less, all in Riley county, Kansas.
Such conveyance of real estate shall be executed in the name of the state board of regents by its chairman and secretary, and shall be delivered upon receipt of a good and sufficient warranty deed from the Kansas state university endowment association, formerly the Kansas state college endowment association, to the following described real estate: A tract of land in lot 20 of section 7, township 10 south, range 8 east of the 6th principal meridian, more particularly described as follows: Beginning at the northeast corner of said lot 20; thence west 400.7 feet along the north line of said lot 20; thence south 432.6 feet parallel to the east line of said lot 20; thence east 164.7 feet parallel to the north line of said lot 20; thence north 7.0 feet; thence east 236.0 feet to a point on the east line of said lot 20, that is 425.6 feet south of the point of beginning; thence north to the point of beginning, containing 3.94 acres more or less, all in Riley county, Kansas.
The conveyance made by the state board of regents of the land first described in this section shall be made to the Kansas state university endowment association by a deed which has had the prior approval of the attorney general.
K.S.A. 76-450