Kansas Statutes 12-5910. Same; use of money received from sale of property
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Terms Used In Kansas Statutes 12-5910
- Bank: means the city land bank established pursuant to this act. See Kansas Statutes 12-5901
- Board: means the board of trustees of the city land bank. See Kansas Statutes 12-5901
- Municipality: means any city, county or other political or taxing subdivision which has the power to levy special assessments. See Kansas Statutes 12-5901
- Property: includes personal and real property. See Kansas Statutes 77-201
(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.