The Department of Administration may grant easements, rights-of-way, dumping rights and other interests in State lands, for the purpose of
(1) Cooperating with the federal government,
(2) Utilizing the natural resources of the State, or
(3) Otherwise serving the public interest.
The Department shall fix the terms and consideration upon which such rights may be granted. Every instrument conveying such interests shall be executed in the manner required of deeds by G.S. 146-74 through 146-78, and shall be approved by the Governor and Council of State as therein provided, or by the agency designated by the Governor and Council of State to approve conveyances of such interests. (1959, c. 683, s. 1.)