Nebraska Revised Statutes Chapter 72. Public Lands, Buildings, and Funds § 72-253. School lands; exchange for federal or other lands; board; powers and duties

(1) The Board of Educational Lands and Funds is authorized and empowered to enter into agreements with the officers and agents of the United States Government for the exchange of any state educational lands lying within any federal forest or game reserve within this state for other lands of equal areas and value belonging to the United States. The board is authorized to convey any such lands to the United States by deed as provided in section 72-208, upon the execution by the United States Government of a patent to the State of Nebraska for the United States lands so exchanged.

(2) The Board of Educational Lands and Funds is authorized, upon the written approval of the Governor, to enter into agreements with individuals for the exchange of any state educational lands for other lands of equal areas or value. Before such an exchange shall be made, it shall be shown that the Board of Educational Lands and Funds will likely be benefited by the exchange.