A.R.S. § 6-13-111 - Consolidated school districts

Cite as:A.R.S. § 6-13-111
Currency:Current through the 2020 Fiscal Session
 
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(a) A school district in the State of Arkansas that is consolidated with one (1) or more school districts may:

(1) Sell a building or real property owned by the school district that is no longer used by the school district at a fair market value;

(2) Preserve a building or real property owned by the school district that is no longer used by the school district;

(3) Lease a building or real property owned by the school district that is no longer used by the school district; or

(4) Donate a building or real property owned by the school district that is no longer used by the school district as allowed under § 6-21-108(b).

(b) If the school district sells or otherwise disposes of a building or real property to a person or entity under this section, then:

(1) The school district shall have the right of first refusal to purchase or otherwise reacquire the building or real property if the person or entity decides to sell the building or real property; and

(2) The sale price of the building or real property when repurchased or otherwise reacquired by the school district shall not:

(A) Exceed the price that the person or entity paid the school district for the building or real property; and

(B) Include compensation for improvements to the building or real property.

(c)

(1) If a school district is unable to secure a purchaser or lessor for an unused building or real property at or near fair market value, a school district shall advertise once per month for three (3) consecutive months the unused building or real property for sale or lease by the school district:

(A) In a newspaper in circulation in the county in which the unused building or real property is located; and

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