(a) The state historical society is authorized and empowered to acquire by purchase or by condemnation proceedings the land described in Kan. Stat. Ann. § 76-2049 in fee simple in the name of the state from moneys appropriated for such purpose. Before any agreement shall be made to purchase such land and house, three disinterested appraisers shall be appointed in accordance with the provisions of Kan. Stat. Ann. § 75-3043a, and amendments thereto, to determine the market value thereof, and no agreement shall be entered into nor purchase made of the land so appraised for a consideration greater than such market value appraisal.

(b) In lieu of acquisition by purchase or condemnation as provided in subsection (a), the state historical society is authorized and empowered to enter into an agreement to acquire the land described in Kan. Stat. Ann. § 76-2049 by exchanging a specific tract or tracts of state-owned land, and any improvements thereon, for the land described in Kan. Stat. Ann. § 76-2049, subject to approval of the terms of such agreement by the legislature or the state finance council acting on this matter which is hereby characterized as a matter of legislative delegation and subject to the guidelines prescribed in subsection (c) of Kan. Stat. Ann. §§ 75-3711c and amendments thereto. Any such tract or tracts of state-owned land shall be of comparable value to the land described in Kan. Stat. Ann. § 76-2049.

(c) The land described in Kan. Stat. Ann. § 76-2049 shall be acquired in the name of the state of Kansas and the state historical society shall not issue a voucher in payment thereof under subsection (a) and shall not enter into an exchange agreement under subsection (b) until the attorney general shall have examined the abstract of title and deed to such land and has determined that such conveyance will convey such land in fee simple to the state of Kansas.