Sec. 5. (a) The library board may:
(1) acquire real or personal property by purchase, devise, lease, condemnation, or otherwise; and
(2) own any real or personal property for purposes of the public library.
(b) The library board may:
(1) sell;
(2) exchange; or
(3) otherwise dispose of;
real and personal property no longer needed for library purposes in accordance with IC 36-1-11 and IC 5-22.
(c) The library board may transfer personal property no longer needed for library purposes for no compensation or a nominal fee to an Indiana nonprofit library organization that is:
(1) tax exempt; and
(2) organized and operated for the exclusive benefit of the library disposing of the property;
without complying with IC 36-1-11 or IC 5-22.
(d) The library board may:
(1) accept gifts of real or personal property; and
(2) hold, mortgage, lease, or sell the property as directed by the terms of the grant, gift, bequest, or devise;
when the action is in the interest of the public library.