77-1-103. Administration of lands. (1) The board shall sell lands under 77-1-102(1) in the same manner as other school lands of the state are sold.
(2) The board may sell the lands under 77-1-102(1) or lease the lands under 77-1-102 without having them surveyed unless the board considers it to be to the best interests of the state to have the lands surveyed as in 77-1-104.
(3) The proceeds from the leasing and sale of the lands under 77-1-102 must be disposed of in the same manner as disposition is made of the proceeds from the leasing and sale of school lands of the state.