(a) The board has the sole and exclusive management and control of system lands.
(b) The board may acquire by purchase, donation, exchange, condemnation, or otherwise:
(1) land, including improvements, for the use of the system; and
(2) other real property that is necessary or convenient to carry out the purposes of state-supported institutions of higher education.
(c) Except as otherwise provided by law, the board may sell, exchange, lease, or dispose of any land or other real property owned by or acquired for the board or the system.