Arkansas Code
Subchapter 1 - General Provisions
§ 6-21-108. School districts authorized to own and convey real property — Donation of property for educational purposes and beneficial educational services only

(a) In addition to the authority of school districts under § 6-13-620, a school district board of directors may acquire and hold real estate, tenements, hereditaments, and other real property necessary for the education of students and the administration of the school district.
(b)
(1) If the board of directors for a school district determines that real property owned or controlled by the school district is not required for the present or future needs of the school district and that the donation of the real property would serve a beneficial educational service for the citizens of the school district, then the school district may donate real property to a publicly supported institution of higher education, a technical institute, a community college, a not-for-profit organization, a county, a city, an incorporated town, or any entity thereof for the following limited purposes:
(A) Having the real property preserved, improved, upgraded, rehabilitated, or enlarged by the donee;
(B) Providing a publicly supported institution of higher education, a technical institute, or a community college with the donated property in which to hold classes; or
(C) Providing community programs and beneficial educational services, social enrichment programs, or after-school programs.

(2) A school district may donate the fee simple title and absolute interest in real property, without any reservations or restrictions to the real property, to a publicly supported institution of higher education, a technical institute, a community college, a not-for-profit organization, a county, a city, an incorporated town, or any entity thereof.
(3) If two (2) years after the effective date of consolidation the real property of the consolidated school district is not used by the school district for educational purposes and has not been sold, preserved, leased, or donated, the school district board of directors shall make the real property available to a publicly supported institution of higher education, a technical institute, a community college, a not-for-profit organization, a county, a city, an incorporated town, or any entity thereof, by donation or low-cost long-term lease, for the following limited purposes:
(A) Having the real property preserved, improved, upgraded, rehabilitated, or enlarged by the donee;
(B) Providing a publicly supported institution of higher education, a technical institute, or a community college with the donated property in which to hold classes; or
(C) Providing community programs and beneficial educational services, social enrichment programs, or after-school programs.

(c) A contract, conveyance, or lease shall be executed by the president and confirmed by the secretary of the school district board of directors after the contract, conveyance, or lease is authorized by a written resolution approved by a majority vote of the school district board of directors.
(d)
(1) If the school district donates real property to an entity under this section, the school district shall have the right of first refusal to reacquire the real property if the entity decides to sell or otherwise dispose of the real property.
(2) The school district is not required to compensate the entity for improvements to real property reacquired under this section.