(a) If at any time the board ascertains that any land or part thereof then being used for school purposes is to be included in any federal flood control project the board may:
(1) Sell, dismantle, remove or relocate any buildings thereon;
(2) Contract with the United States of America, or any instrumentality, agency or political subdivision thereof, for the sale or exchange of its interest in the land or any part thereof; and
(3) Without auction sell or exchange its interest in the land or any part thereof to the United States of America, or any instrumentality, agency or political subdivision thereof, in accordance with the terms and provisions of the contract.
(b) If the flood control project is proposed in a county where the state Board of Education has intervened in the operation of the county school system pursuant to the provisions of section five, article two-e of this chapter or any other Constitutional or statutory authority to intervene, the powers granted in this section are vested in the state board.
(c) Notwithstanding the provisions of section seven of this article, neither the grantor of the land or any part thereof nor his heirs or assigns has the right to purchase the land or any part thereof or have any other rights whatever under section seven of this article.