The state board of regents is hereby authorized and empowered, for and on behalf of Emporia state university, formerly named Emporia Kansas state college, to sell and convey by quitclaim deed all of the rights, title and interest in the following described real estate located in Rice county, Kansas: The West Half of the Southwest Quarter (W1/2 SW1/4) of Section One (1), Township Twenty (20) South, Range Seven (7) West of the Sixth Principal Meridian, Rice County, Kansas. The conveyance of such rights, title and interest of such real estate shall be executed in the name of the state board of regents by its chairperson and executive officer. When the sale is made, the proceeds thereof shall be delivered to the Emporia state university endowment association, inc., to be administered in accordance with the last will and testament of Viola Conner. The sale and conveyance authorized by this section shall not be subject to the provisions of Kan. Stat. Ann. § 75-3043a.