(a) For the purpose of acquiring lands, easements or interests in land on which to erect buildings or for laying and maintaining water mains, sewers, roads, or for any other purpose necessary to properly maintain and carry on any state institution or business thereof, the state board of regents, or any other board or commission in charge of any state institution, may purchase or condemn such lands, easements or interests in land.

(b) If such lands, easements or interests in land are acquired by condemnation, the procedure followed shall be that prescribed in chapter 26 of Kansas Statutes Annotated.

(c) If such lands, easements or interests in land are acquired by purchase, any such board or commission shall first obtain appraisals by two (2) competent real estate appraisers of the property to be purchased. The appraisals obtained shall remain confidential until the purchase transaction is completed. The purchase price shall not exceed the appraised value as determined above.