The parks and recreation board [park and recreation board] may:
(1) Exchange property held in the park land trust for any lands of equal value which it administers, provided such exchange is not prohibited by title restrictions on such lands;
(2) Exchange property held in the park land trust for property of equal or greater value which is owned publicly or privately and which has greater potential for park and recreation purposes, property which could be more efficiently managed by the department, or property which could be traded for other lands with high park and recreation potential. No power of eminent domain is hereby granted to the department;
(3) Sell property held in the park land trust as provided in section 67-4227, Idaho Code, at a price not less than its appraised value, and use the proceeds from such sale to acquire property for the park land trust which has substantial potential for park and recreation purposes, which can be efficiently managed by the department, or which can be traded for other lands with high park and recreation potential.