(a) The Huntsville City Board of Education is declared to be the successor to the Trustees of Green Academy, a body corporate established on November 25, 1812, by the Legislative Council and the House of Representatives of the Mississippi Territory.
(b) With respect to any real, personal, or mixed property owned by the trustees, and any other provision of law to the contrary notwithstanding, the board may assign, convey, deed, exchange, lease, sell, or otherwise dispose of or transfer, or encumber, mortgage, pledge, or subject to security interests, such property, on such terms as the board deems necessary or appropriate. Any modification to the exterior of any structure located on such property shall comply with the historic property preservation requirements provided in Section 11-68-9, and any rules promulgated pursuant to that section. The proceeds of any action taken by the board relating to the property shall be used by the board as the board deems necessary or appropriate for the administration and management of the public schools under the jurisdiction of the board.
(c) The Judge of Probate of Madison County shall file, record, and index a certified copy of this section under the name of the Trustees of Green Academy in the direct index, and under the name of the Huntsville City Board of Education in the reverse index, in the real estate records of the office of the judge of probate.