1. (a) Scope.— This section applies if a school district is a trustee of land in accordance with all of the following:

   1. (1) The land is held for the benefit of the public.
   2. (2) The land is not used directly for school purposes.

2. (b) Requirement.—

   1. (1) By January 30, the school district shall prepare a report for the prior year concerning the trust.

   2. (2) The report shall detail all of the following:

      1. (i) Revenues generated.
      2. (ii) Expenses incurred.
      3. (iii) Balance of funds held by the school district as trustee.
      4. (iv) A statement regarding the activities taken by the trustee during the prior year to advance the purposes of the trust.
   3. (3) The report must be certified as correct by the district superintendent.

   4. (4) The report shall be made public as follows:

      1. (i) The report shall be published in 14-point type in a newspaper of general circulation in each county in which the land is located.
      2. (ii) The report shall be available during business hours for inspection and copying at the office of the district superintendent. A reasonable fee may be charged for copying.

Cross References. Section 7795 is referred to in section 7796 of this title.