The Kansas state university endowment association may, if they deem advisable, sell and convey any or all of the property specified in Kan. Stat. Ann. § 76-472 at not less than the appraised value thereof as established in proceedings for probate of said will. The proceeds received from the sale of any of such property shall be used solely for the development, expansion and improvement of a museum and art center at Kansas state university, Manhattan, Kansas, as required under the terms of the last will and testament of the late Charles V. Kincaid, of Independence, Kansas.