The state board of regents is authorized and empowered to sell and convey its one-sixth interest in certain real property described as to parcel number 15-16, Estate Frenchman’s Bay, No. 4 Frenchman’s Bay Quarter, St. Thomas, Virgin Islands, deriving from the estate of Jerome E. Friedson, deceased. The proceeds of said sale and conveyance shall be administered in accordance with the last will and testament of Jerome E. Friedson. The sale and conveyance authorized by this section shall not be subject to the provisions of Kan. Stat. Ann. § 75-3043a.