12-5910. Same; use of money received from sale of property. (a) Except as provided in paragraph (b), any moneys derived from the sale of property by the bank shall be retained by the bank for the purposes and operations thereof.
(b) The board may use all or any part of the proceeds from the sale described in paragraph (a) to reimburse any municipality for delinquent special assessments due on such property.
History: L. 2009, ch. 120, § 10; July 1.
Structure Kansas Statutes
Chapter 12 - Cities And Municipalities
12-5901 City land banks; definitions.
12-5902 Same; city governing body; establishment, dissolution; board of trustees.
12-5903 Same; cash basis; budgets; accounts and records; annual report.
12-5904 Same; composition of board; open meetings; conflict of interest; suits.
12-5905 Same; powers of board.
12-5906 Same; transfer of property.
12-5907 Same; administration of property; duties of board.
12-5908 Same; sale of property; conditions.
12-5909 Same; exemption of property from taxation; exceptions.
12-5910 Same; use of money received from sale of property.