Notwithstanding any provision of the general laws to the contrary, including, but not limited to, the provisions of § 45-2-6, the town council of the town of Portsmouth is hereby authorized and permitted to exercise its discretion to give, grant, bargain, sell, transfer and/or convey to the Prudence Island School Foundation, all of its right, title, and interest in and to those certain lots or parcels of land, including and together with all buildings and improvements located thereon, situated on Prudence Island in the town of Portsmouth, Rhode Island, within the plat entitled “Plat of Prudence Park” and numbered as Lots 824, 825, 826 and 827 as recorded in the office of the Portsmouth Land Evidence Records in Plan Book 1 on pages 2 and 3 and on pages 6 and 7 (the “property”) to the Prudence Island School Foundation, a Rhode Island nonprofit corporation, subject to those rights of reversion set forth in the deed recorded on July 2, 1896, in Book 20 on Page 403 and the deed recorded on November 26, 1997, in Book 516 on Page 114 of the Portsmouth Land Evidence Records, if the property shall cease to be used for educational purposes.