(1) By public auction, either on the premises to be sold or at places selected by the school board, after due notice by publication in one or more newspapers of general circulation published within the county or the school district and in the legal newspaper in said county, if any, once a week for three successive weeks before the date fixed for said sales, and by hand bills, one or more of which must be posted on the property proposed to be sold, and at least five of which must be posted at conspicuous places within the vicinity of said real estate. Terms and conditions of sale shall be fixed by the board in the motion or resolution authorizing the sale.

(2) Upon sealed bids requested by the school board, notice of the request for sealed bids to be given as provided in clause (1) of this section. Terms and conditions of sale shall be fixed by the board in the motion or resolution authorizing the request for sealed bids.

(3) At private sale, subject to the approval of the court of common pleas of the county in which the school district is located. Approval of the court shall be on petition of the board of school directors, which petition shall be executed by the proper officers of the board, and shall contain a full and complete description of the land proposed to be sold, a brief description and character of the building or buildings erected thereon, if any, the name of the prospective purchaser, the amount offered for the property, and shall have attached thereto an affidavit of at least two persons who are familiar with the values of real estate in the locality in which the land and buildings proposed to be sold are located, to the effect that they have examined the property, that the price offered therefor is a fair and reasonable one and in their opinion a better price than could be obtained at public sale, and that they are not interested, either directly or indirectly, in the purchase or sale thereof. Before the court may act upon any such petition it shall fix a time for a hearing thereon and shall direct that public notice thereof be given as provided in clause (1) of this section. A return of sale shall be made to the court after the sale has been consummated and the deed executed and delivered.

(4) In the case of land, or any interest therein, acquired by a school district of the first class at any sale on a tax or municipal claim, or on a bid submitted at any judicial sale, where the school district has an interest arising out of unpaid taxes against the premises being sold, or by voluntary conveyance in payment of taxes, the land so acquired may be sold by the school district of the first class, at public or private sale, pursuant to a resolution of the board of public education of such school district, without advertisement, and without further proceedings or confirmation by the court.

(5) The board of school directors may, at their discretion, when selling real estate, sell and convey such real estate to the purchasers for the accepted consideration, payable partly in cash and partly in the form of a purchase money mortgage (and bond) to be paid in not more than five (5) years from the date thereof and bearing interest at the rate of not less than five (5) per centum, said mortgage and bond to contain the customary provisions requiring fire insurance and the payment of taxes, water rents, and assessments by the mortgagor and obligor.

(6) The board of school directors, when selling property at private sale, may engage the services of licensed real estate brokers to secure prospective purchasers, and pay them the customary real estate agents' commission charged within the school district, but only in the event the sale is actually consummated by the brokers.

(7) The moneys derived from sales of real estate enumerated in clause (4) of this section shall be paid into the general fund, along with moneys derived from taxes, and may be used for current expenses of the school district. The moneys derived from sales of other real estate shall be used for debt service or for capital expenditures.

(7.1) Notwithstanding the foregoing provisions of this section, the board of school directors may, upon approval of two-thirds ( ²/₃ ) of its members, sell and convey real estate to a charitable organization holding exempt status under section 501(c)(3) of the Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C. § 501(c)(3)) for the accepted consideration which may include, but not be limited to, payment partly in cash and partly in the form of a purchase money mortgage and bond to be paid in a period in excess of five (5) years from the date of the mortgage. The mortgage and bond shall contain the customary provisions requiring fire insurance and the payment of taxes, water rents, and assessments by the mortgagor and obligor.

(8) Notwithstanding the foregoing provisions of this section, any school district of the second, third or fourth class, upon approval of two-thirds ( ²/₃ ) of the members of the board of school directors of such district, may convey any unused and unnecessary lands and buildings of the district to the city, borough, town, township or municipal authority, the boundaries of which are coterminous with or within those of the district or a volunteer fire company, volunteer ambulance service or volunteer rescue squad located within the district, without consideration, or for such consideration and on such terms of exchange or otherwise as may be agreed upon, without first complying with the requirements of the foregoing provisions of this section.

All such conveyances to a city, borough, town, township or municipal authority shall contain a clause whereby the lands and buildings will revert to the school district if they are no longer being used for municipal or authority purposes, with the following exception. If the lands and buildings acquired from a former school district are conveyed to a city, borough, town, township or municipal authority, the boundaries of which are coterminous with or within those of the former school district, the conveyance need not contain a reverter clause. However, all conveyances to a volunteer fire company, volunteer ambulance service or volunteer rescue squad shall contain a clause whereby the lands and buildings will revert to the school district if they are no longer being used for fire, ambulance or rescue services.

(9) Notwithstanding the foregoing provisions of this section, any school district may lease, grant, assign or convey to the State Public School Building Authority, a municipality authority or any profit or nonprofit corporation, partnership, association or person, with or without consideration, in connection with any lease for a school building or project, any lands, easements or rights in lands, together with any improvements, buildings or structures therein or thereon, now owned by the school district or hereafter acquired by it, deemed necessary to carry out the project, as well as furnishings and equipment used or useful in connection therewith.

(10) Notwithstanding the foregoing provisions of this section, any school district may convey any unused and unnecessary lands and buildings which are of historical significance and importance to any legally constituted historical society for historical purposes without consideration or for such consideration and on such terms or exchange or otherwise as may be agreed upon without complying with the other provisions of this section.

(11) Notwithstanding the foregoing provisions of this section, and subject to the limitations herein set forth, any school district, upon approval of two-thirds ( ²/₃ ) of the members of the board of school directors of said district, may convey, with or without consideration, any unused or unnecessary lands and buildings of the district to: (i) A community college organized and existing under the provisions of the “Community College Act of 1963,”;¹ or (ii) The State Public School Building Authority or a municipality authority with which the community college has entered into or is about to enter into a lease rental agreement for the use of the subject lands and buildings.

The conveying school district shall: (i) Be a sponsor of the community college to which the conveyance is to be made, or with which the State Public School Building Authority or the municipality authority to which the conveyance is to be made has entered into or is about to enter into a lease rental agreement for the use of the subject lands and buildings; or (ii) Be coterminous with or included within the boundaries of a municipality or county board of school directors sponsoring the community college to which the conveyance is to be made or with which the State Public School Building Authority or the municipality authority to which the conveyance is to be made has entered into or is about to enter into a lease rental agreement for the use of the subject lands and buildings.