(1) Enter into a lease or leases with a profit or nonprofit corporation, partnership, association or persons, for the rental of necessary grounds and buildings for school purposes or buildings to be erected for school purposes whereby the school district or districts shall have the right to renew the lease or leases not to exceed forty years at a stipulated rental to be paid by the school district or districts out of current revenues and at any time during the continuance of the lease or leases purchase the grounds and buildings at a stipulated price.

(2) In connection with the execution of the lease, sell lease, land grant or convey, individually or jointly, to the corporation, partnership, association or person, with or without consideration, any lands, easements, or rights in lands, which are deemed necessary for the project together with any buildings, structures or improvements thereon erected as well as furnishings and equipment used or useful in connection therewith.

(3) Purchase or otherwise acquire additional lands or interests in lands which are deemed necessary for the project and finance the acquisition by the issuance and sale of general obligation bonds.

(4) Transfer, assign and set over to the corporation, partnership, association or person any contract which has been awarded for the project or projects.

(5) Make payments to the corporation, partnership, association or person out of its or their general funds or out of any other available funds including proceeds of insurance on school property, the proceeds of bonds of the school district or districts issued for building purposes and not so used and moneys set aside or otherwise available for building purposes. The proceeds of any general obligation bonds heretofore or hereafter issued by a school district shall be used by the corporation, partnership, association or person for the purpose or purposes for which the bonds were issued and if the bonds were issued pursuant to a vote of the electors the appropriation of the proceeds shall not be deemed such a change of purpose from that for which the bonds were authorized as require the question to be again submitted to a vote of the electors under any existing law.

(6) In case of joint leases, agree, subject to the approval of the Department of Public Instruction, on the manner of sharing between the school districts the rental or rentals and any other sums payable to the corporation, partnership, association or person and the costs and expenses of insuring, operating, maintaining and repairing the school property leased.

(7) Make all other contracts or agreements with the corporation, partnership, association or person or with other school districts deemed necessary or convenient in connection with the project.