Pennsylvania Statutes Title 24 P.S. Education § 7-759. Appropriations to nonprofit corporations 1] for athletic stadia, etc.

The board of school directors of any school district shall have power to enter into a contract of lease and release with any nonprofit corporation established for the purpose of erecting athletic stadia, including adequate equipment for the athletic field connected therewith, as well as fence enclosures and lighting systems therefor, for the use of the school district, under which contract the school district shall lease land owned by it to the nonprofit corporation for the purpose of erecting thereon an athletic stadium, including adequate equipment for the athletic field connected therewith, as well as fence enclosures and lighting systems therefor, for the use of the school district. The school district shall lease the same from the nonprofit corporation at a stated rental, payable only out of the proceeds of the gate receipts and rentals for the use of such facilities, with the right in the school district to renew such lease at stated periods at a stipulated rental, and, at any time during the continuance of the lease, to purchase the improvements from the nonprofit corporation at a stipulated price. No such contract of lease and release shall be entered into until the entire project has been submitted to and approved by the Department of Public Instruction  2 in writing. Such approval shall include specifically, (1) approval of purpose for which improvement is intended, (2) total cost of improvement, (3) amount of rental, (4) period of time for amortization, and (5) a stipulation that no money of the school district, other than that received from gate receipts and rentals for the use of the improvements, shall be used in making any payment of rental or purchase price. Upon completion of the improvements the school district shall take over and operate the same and shall collect all gate receipts and entrance fees, and all rentals for the use of the improvements, and shall keep the same in a separate fund apart from all other moneys of the school district. Such fund, until title to the improvements has been obtained by the school district, shall be used only for the maintenance and operation of the stadium and other improvements, and for the payment of rentals and purchase price of such improvements.