The district may execute contracts for constructing or equipping school buildings
in the district or for purchasing any necessary sites for school buildings in the
manner provided by law. If any contract recites that payments under the contract are to be made either from
the proceeds from the sale of real property under an installment sale agreement or
any similar method pursuant to this subchapter or from proceeds from the sale of bonds
issued pursuant to this subchapter, then the contract may be made payable in installments
to correspond with the receipt by the district either of proceeds under the sale agreement
or proceeds from the sale of any bonds to be issued and delivered in more than one
issue, series, or installment, and the contract is not a prohibited debt or indebtedness
of the district if the payments under the contract are required to be made solely
from the proceeds from the sale of real property or the bonds.
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