The Board of Regents of the University of Texas System has the sole and exclusive management and control of the lands set aside and appropriated to, or acquired by, the permanent university fund. The board may sell, lease and otherwise manage, control and use the lands in any manner and at prices and under terms and conditions the board deems best for the interest of the permanent university fund, not in conflict with the Texas Constitution. However, the land shall not be sold at a price less per acre than that at which the same class of other public land may be sold..

At time of sale.