(a) County and city boards of education are empowered to exercise the right of eminent domain and to take and use the property of individuals or private corporations for public school purposes as provided in this section.

(b) The county mayor or mayor of the city shall appoint not exceeding seven (7) freeholders, who shall constitute a board of appraisers and whose duty it shall be to determine the cash value of the land as provided in subsection (c).

(c) In case the owner of the property and the board of education fail to agree on the price to be paid for the property, it is the duty of the board of appraisers, at the request of either the owner or the board of education, to go upon the land and, under oath, fix a fair cash valuation upon the land.

(d)

(1) In case the owner or the board of education fails to concur in the findings of the board of appraisers, and appeal as they may to the circuit court where the cause will be tried de novo, the board of education, upon deposit with the county trustee of good and solvent bond to indemnify the owner in double the amount of the value fixed for the land in question by the board of appraisers, may proceed with the construction of the schoolhouse or other necessary building.

(2) When a court of competent jurisdiction has passed upon the case, on payment to the owner of the amount decreed by the court, the decree of the court vesting title in the board of education and their successors in office shall be a muniment of title as in other eminent domain cases, and if necessary, the court so rendering judgment is required to render judgment against the county or city, and the judgment shall be paid out of the general fund of the county or city or any other fund available.