IC 20-26-7-1: Except as otherwise provided in IC 20-26-7-1, if a governing body of a school corporation determines that any real or personal property:
- Is no longer needed for school purposes; or
- Should, in the interests of the school corporation, be exchanged for other property;
The governing body may sell or exchange the property in accordance with IC 36-1-11. Money derived from the sale or exchange of property under this section shall be placed in the school corporation’s operations fund.
IC 36-1-11-5.5: A disposing agent of a school corporation may sell or transfer:
- Real property; or
- Tangible or intangible personal property, licenses, or any interest in the tangible or intangible personal property or licenses that are used in, or related to, the operation of a radio station by a school corporation;
For no compensation or a nominal fee to a not-for-profit corporation created for educational or recreational purposes unless the corporation is subject to section 16 of this chapter.