When the state owns land in a county which owns land located in another county granted in lieu of the sixteenth section school lands, generally known as “lieu lands,” the Governor and land commissioner acting for the state and the board of education acting for such county may, by written agreement, exchange the land owned by the state in such county for “lieu lands” owned by such county in another county.
The title to the state-owned land shall be conveyed to such county by a patent signed by the Governor and land commissioner as other patents are executed under the law. The title to the lieu lands shall be conveyed to the state by deed signed by the superintendent of education on order of the board of education. The written agreement between the state and the county shall be recorded in the minutes of said board of education.