The emergency commission may approve the acquisition of property near one of the state institutions of higher education, and if requested and found necessary may make funds available from the state contingencies appropriation to the board of higher education for the purpose of acquiring the property if the emergency commission finds that: 1. The property is needed for expansion in the foreseeable future; 2. The property in all probability will not again be offered for sale at a similar price in the foreseeable future; and 3. The legislative assembly has not previously rejected a similar request and the time during which the purchase must be consummated does not permit obtaining a legislative appropriation. Determination that an emergency exists is not a condition precedent to the approval of a purchase or a grant of funds from the state contingencies appropriation under this section.
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