The board of school directors of any district is hereby vested with the necessary power and authority to sell unused and unnecessary lands and buildings, by any of the following methods and subject to the following provisions:
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.
The conveying school district shall:
24 P.S. § 7-707