(1) To the extent practical and consistent with the board's powers and duties pursuant to 77-1-202, the board shall offset purchases made pursuant to 77-1-218, 77-1-219, and 77-1-229 by selling an equal amount of land.
(2) Proceeds received from offsetting sales may not be used for:
(a) purchasing additional lands; or
(b) the land banking process under 77-2-361 through 77-2-367.
(3) A separate record of the proceeds received from each sale of land must be maintained.