24 Pa. Stat. § 805
In all cases where such sale and conveyance shall be made of said real estate, buildings and property, under the provisions of section one hereof, the purchase money or consideration arising from such sale shall be paid over to the treasurer of the said school district, for the use of said district; and the same shall and may only be used, expended and employed by the board of school directors for the erection of new school buildings, the purchase of school furniture, the necessary equipment of any new school building, erected in place of the buildings or property so sold, or for the making of additions or alterations to any school building erected, or the improvement and beautifying of the school grounds appurtenant to any school building in said district.
24 P.S. § 805