(1) The board of trustees of state institutions of higher learning is hereby authorized, in its discretion, to acquire by purchase, gift, or otherwise, any real property required by and for the use of Mississippi State University of Agriculture and Applied Science, and said university is authorized to hold, use and operate such real property in conducting its authorized and necessary program of work. This section is designed to make it possible for said university and its subdivisions to acquire, hold and operate real property needed in its program of operations without the benefit of state funds specifically appropriated for the purchase of such properties. Such properties shall be acquired or purchased on the recommendation of the Director of the Mississippi Agricultural and Forestry Experimental Station made to the president of said university and approved by the board of trustees of state institutions of higher learning.

(2) The board of trustees of state institutions of higher learning is hereby authorized, in its discretion, to sell any such real property purchased or otherwise acquired under the authority of subsection (1) for the use of Mississippi State University of Agriculture and Applied Science or its subdivisions when such property is not needed in the university’s programs of operations. Such properties shall be sold on the recommendation of the Director of the Mississippi Agricultural and Forestry Experimental Station made to the president of the university and approved by the board of trustees of state institutions of higher learning. The proceeds from the sale of such properties may be used to purchase other real properties for the use of the university under the provisions of subsection (1), or may be retained by the university for its operations. Consideration for the sale of real property hereunder shall not be less than the fair market price thereof as determined by a professional property appraiser selected and approved by the state building commission. Said appraisal shall be filed with the state building commission as least thirty (30) days prior to the proposed sale of said property. Appraisal fees shall be shared equally by the university and the purchaser.

(3) The board of trustees of state institutions of higher learning is hereby authorized and empowered to sell the following described property owned by Mississippi State University of Agriculture and Applied Science in Oktibbeha County, Mississippi, to-wit: Commence at the Northeast corner of the Southeast Quarter of Section 15, Township 19 North, Range 15 East, Oktibbeha County, Mississippi and use as the point of beginning. Thence run West along the North boundary of the South Half of Section 15 a distance of 3,997 feet to the East right-of-way of Macon-Aberdeen Road; thence run South along said right-of-way a distance of 20 feet; thence run East a distance of 800 feet; thence run South 78 degrees 41’ East a distance of 102 feet; thence run East a distance of 410 feet; thence run South a distance of 1,107 feet; thence run East a distance of 2,687 feet to the East boundary of Section 15; thence run North along said East boundary of Section 15 a distance of 1,147 feet to the point of beginning. Being 71.56 acres located in the East Three Quarter of the South Half of Section 15, Township 19 North, Range 15 East, Oktibbeha County, Mississippi.

The proceeds from the sale of said property shall be used by the board of trustees of state institutions of higher learning to purchase other real property adjacent or in close proximity to the Mississippi State University of Agriculture and Applied Science, or its subdivisions, suitable for use in the university’s programs of operation. Consideration for the sale and purchase of said property shall be for the fair market price thereof as determined by a professional property appraiser selected and approved by the state building commission. Said appraisals shall be filed with the state building commission at least thirty (30) days prior to the proposed sale or purchase of said property. Appraisal fees shall be shared equally by the university and the purchaser in the case of the sale herein authorized, and by the university and the seller(s) in the case of the purchase herein authorized.

(4) The board of trustees of state institutions of higher learning is hereby authorized and empowered to sell the following described property owned by Mississippi State University of Agriculture and Applied Science in George County, Mississippi, to-wit: The South West Quarter of the North West Quarter of Section Twenty, in Township One South of Range Six West, of the St. Stephens Meridian, Mississippi, containing Forty and Thirty One Hundredths of an acre.

The proceeds from the sale of said property shall be used by the board of trustees of state institutions of higher learning to purchase other real property adjacent or in close proximity to the Mississippi State University of Agriculture and Applied Science, or its subdivisions, suitable for use in the university’s programs of operation. Consideration for the sale and purchase of said property shall be for the fair market price thereof as determined by a professional property appraiser selected and approved by the state building commission. Said appraisals shall be filed with the state building commission at least thirty (30) days prior to the proposed sale or purchase of said property. Appraisal fees shall be shared equally by the university and the purchaser in the case of the sale herein authorized, and by the university and the seller(s) in the case of the purchase herein authorized.

(5) The board of trustees of state institutions of higher learning is hereby authorized and empowered to sell the following described property owned by Mississippi State University of Agriculture and Applied Science in Lauderdale County, Mississippi, to-wit: The Northeast Quarter of the Northeast Quarter of Section 2, in Township 6, Range 16 East, plus applicable easements and mineral rights thereto.

The proceeds from the sale of said property shall be used by the board of trustees of state institutions of higher learning to purchase other real property adjacent or in close proximity to the Mississippi State University of Agriculture and Applied Science, or its subdivisions, suitable for use in the university’s programs of operation. Consideration for the sale and purchase of said property shall be for the fair market price thereof as determined by a professional property appraiser selected and approved by the state building commission. Said appraisals shall be filed with the state building commission at least thirty (30) days prior to the proposed sale or purchase of said property. Appraisal fees shall be shared equally by the university and the purchaser in the case of the sale herein authorized, and by the university and the seller(s) in the case of the purchase herein authorized.

(6) When any property is sold by the board of trustees of state institutions of higher learning pursuant to this section, the board shall retain for the State of Mississippi any mineral rights which the board or the university has in such land.