The authority conferred by Sections 37-7-471 through 37-7-483 may be exercised by the existing school board of any school district in which any such school building, land, property or other school facility is located or situated. Such school board may contract with any other school board, or any other governmental entity, to assign and transfer its rights and duties under this chapter, under such terms and conditions as the school board may determine, in its discretion, to further the public interest. The sections, without reference to any other statute, shall be deemed full, complete and exclusive power for the exercise of the authority conferred hereby.Codes, 1942, § 6328-102; Laws, 1958, ch. 596, § 2; Laws, 1986, ch. 492, § 37; Laws, 2005, ch. 540, § 8, eff. 4/20/2005.