(105 ILCS 5/32-4.12) (from Ch. 122, par. 32-4.12)

Sec. 32-4.12. Sale of real estate-Use of proceeds.

The board of education of any special charter district may sell and dispose of any real estate conveyed to it by any city for school purposes and use the proceeds derived from the sale thereof for school building purposes or for the purchase of other real estate for such purposes.

(Source: Laws 1961, p. 31.)