The board of school directors of any district is hereby vested with the necessary power and authority to acquire, in the name of the district, by purchase, lease, gift, devise, agreement, condemnation, or otherwise, for proper school purposes, any school building or other real estate situated in another school district and to erect thereon school buildings, and to sell, convey, transfer, or abandon the same, or any part thereof, subject to the provisions of this act. Any such buildings or other real estate used for proper school purposes acquired in any other district by any such district shall be exempt from taxation for any purpose whatever.
24 P.S. § 7-704