Sale or exchange of unneeded school property to state;

execution of deed Sec. 40. Whenever: (1) an agreement described in section 39 of this chapter is executed; and (2) the payment of any money is made; deeds of conveyance shall be executed by the trustees or board of trustees of the school corporation and by the state for the transfer of state owned real estate. [Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5-54-2.] As added by P.L.1-2005, SEC.10.