(a) The state board of regents shall designate and set aside for public park purposes that portion of the Fort Hays military reservation which was the site of the buildings of old Fort Hays, together with the remaining buildings of said fort, and such other portions of said reservation as the board may deem to be of particular historical interest or which, in the judgment of said board, may be favorably situated and well adapted for park purposes, and the setting aside of which for park purposes will not interfere with the reasonable use of said reservation by either of the educational institutions now established thereon.

(b) Within six (6) months after the effective date of this act, the state board of regents may redesignate the boundaries of that portion of the Fort Hays military reservation set aside for park purposes by establishing the approximate center of the channel of Big creek as the boundary between Fort Hays state university and the Kansas frontier historical park.