The board of trustees is a body politic, under the name and style of the Wil Lou Gray Opportunity School. It shall have a seal, which it may change at its discretion, and in its name it may contract for, purchase, and hold property for the purposes provided for in this chapter. It may take any property or money given or conveyed by deed, devised, or bequeathed to the school, and hold it for its benefit and use. The conditions of the gifts or conveyances in no case may be inconsistent with the purposes of the school, and the board may not by the acceptance thereof incur any obligation on the part of the State. It shall securely invest all funds and keep all property which may come into its possession. It may sue and be sued in its name and may do all things necessary to carry out the provisions of this chapter.