A state agency may, when it deems such action to be in the best interest of the state, grant easements upon or across any real property which it administers and which is owned by the state for the use or benefit of a state institution under its jurisdiction. Any property rights transferred under the authority of this section must be transferred and conveyed by quitclaim instrument or easement executed in the name of the state of North Dakota by the governor and attested by the secretary of state. Such quitclaim instrument or easement must contain specific legal descriptions of the property right transferred and the location thereof. Upon the granting of an easement under the authority of this section any proceeds must be used in the following manner: 1. If the property is the subject of a devise, legacy, bequest, or gift to the institution the proceeds of the easement are subject to the provisions of sections 1-08-02 and 1-08-04. 2. If the property is not subject to sections 1 -08-02 and 1 -08-04, the proceeds of the easement must be deposited in the special operating fund of the institution or, if no such operating fund then exists, such proceeds must be deposited in the general fund in the state treasury.
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