N.Y. Education Law § 402: Sale of former schoolhouse or site

§ 402. Sale of former schoolhouse or site. 1. Whenever the site of a

schoolhouse shall have been changed, as herein provided, and after the

value of such property has been appraised by the local assessor or a

qualified private real property appraiser, the inhabitants of a district

entitled to vote, lawfully assembled at any district meeting, shall have

power, by a majority of the votes of those present and voting, to direct

the sale of the former site or lot, and the buildings thereon and

appurtenances or any part thereof, at such price and upon such terms as

they shall deem proper; and any deed duly executed by the trustees of

such district, or a majority of them, in pursuance of such direction,

shall be valid and effectual to pass all the estate or interest of such

school district in the premises.

2. Whenever the education of all the children of any school district

shall have been provided outside the district for a period of two years,

or more, pursuant to the provisions of article forty-one of this

chapter, and the site of the schoolhouse or other grounds used for

school purposes shall have been unused for a like period, and after the

value of such property has been appraised by the local assessor or a

qualified private real property appraiser, the inhabitants of a district

entitled to vote, shall have the power, by a majority of the votes of

those present and voting, to determine that such site or grounds, and

buildings thereon, are of no further use to the district and to direct

the sale thereof, subject to the approval of the commissioner, at such

price and upon such terms as they shall deem proper; and any deed duly

executed by the trustees of such district, or a majority of them, in

pursuance of such direction, shall be valid and effective to pass all

the estate or interest of such school district in the premises. Prior to

the sale of school buildings and site or grounds, as provided by this

subdivision, the board of education or the trustees, having jurisdiction

thereof, may lease such school buildings and site or grounds, or any

part thereof, for residential purposes for periods not in excess of one

year. Rentals therefor shall be in such amounts and payable at such

times as the board shall determine.

Prior to such sale such board of education or trustees may lease such

school buildings and site or grounds, or any part thereof, as provided

in section four hundred three-a of this chapter.

3. When a credit shall be directed to be given upon such sale for the

consideration money, or any part thereof, the trustees are hereby

authorized to take in their corporate name such security by bond and

mortgage, or otherwise, for the payment thereof, as they shall deem

best, and shall hold the same as a corporation, and account therefor to

their successors in office and to the district, in the manner they are

now required by law to account for moneys received by them; and the

trustees of any such district and their successors may, in the name of

their office, sue for and recover the moneys due and unpaid upon any

security so taken by them or their predecessors.