It is the policy of the Board of Education that real property acquisition price be based on a true value with regard for fair remuneration to the seller but not an enhancement of the value of the site to the seller.

The Superintendent shall be responsible for site acquisition negotiations. Negotiations for site acquisition purchase price shall be based on the last transaction price, taxes on the property after platting, and a reasonable interest earning on the investment based on the current cost of money.

Discussion of possible school sites may be carried on in a closed session of the Board, but all official actions must be taken in an open, public meeting. Official Board action is required to execute a valid contract, and a record of that action must be a part of the minutes of the Board. The process used in acquiring real property must be in accordance with law. Any deviation from the strict requirements of the law may render the transaction void.