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Missouri House Bill HB2177

Missouri 2022 Regular Session

Missouri House Bill HB2177 Compare Versions

OldNewDifferences
11 SECONDREGULARSESSION
2-[PERFECTED]
32 HOUSECOMMITTEESUBSTITUTEFOR
43 HOUSEBILLNO.2177
54 101STGENERALASSEMBLY
6-4218H.02P DANARADEMANMILLER,ChiefClerk
5+4218H.02C DANARADEMANMILLER,ChiefClerk
76 ANACT
87 Torepealsections140.980,140.981,140.982,140.983,140.985,140.986,140.991,
98 140.1009,and140.1012,RSMo,andtoenactinlieuthereofninenewsections
109 relatingtolandbankagencies.
1110 BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
1211 SectionA.Sections140.980,140.981,140.982,140.983,140.985,140.986,140.991,
1312 2140.1009,and140.1012,RSMo,arerepealedandninenewsectionsenactedinlieuthereof,to
1413 3beknownassections140.980,140.981,140.982,140.983,140.985,140.986,140.991,
1514 4140.1009,and140.1012,toreadasfollows:
1615 140.980.1.Sections140.980to140.1015shallbeknownandmaybecitedasthe
1716 2"LandBankAct".
1817 3 2.Asusedinsections140.980to140.1015,thefollowingtermsmean:
1918 4 (1)"Ancillaryparcel",aparcelofrealestateacquiredbyalandbankagencyother
2019 5thananysaleconductedundersection140.190,140.240,or140.250;
2120 6 (2)"Landbankagency",anagencyestablishedbyacityornonchartercountyother
2221 7thanacountywithmorethaneightythousandbutfewerthanonehundredthousand
2322 8inhabitantsandwithacountyseatwithmorethanseventythousandbutfewerthan
2423 9eightythousandinhabitantsundertheauthorityofsection140.981;
2524 10 (3)"Landtaxes",taxesonrealpropertyorrealestate,includingthetaxesbothonthe
2625 11landandtheimprovementsthereon;
2726 12 (4)"Politicalsubdivision",anycounty,city,town,village,schooldistrict,library
2827 13district,oranyotherpublicsubdivisionorpubliccorporationthathasthepowertotax;
2928 EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
3029 intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 14 (5)"Reserveperiodtaxes",landtaxesassessedagainstanyparcelofrealestatesold
3130 15orotherwisedisposedofbyalandbankagencyforthefirstthreetaxyearsfollowingsuch
3231 16saleordisposition;
3332 17 (6)"Taxbill",realestatetaxesandthelienthereof,whethergeneralorspecial,levied
3433 18andassessedbyanytaxingauthority;
3534 19 (7)"Taxingauthority",anygovernmental,managing,administering,orotherlawful
3635 20authority,noworhereafterempoweredbylawtoissuetaxbills.
3736 140.981.1.(1)Any[homerulecitywithmorethanseventy-onethousandbutfewer
3837 2thanseventy-ninethousandinhabitants] citywithonethousandfivehundredormore
3938 3inhabitantsmayestablishalandbankagencyforthemanagement,sale,transfer,andother
4039 4dispositionofinterestsinrealestateownedbysuchlandbankagency.
4140 5 (2)Uponrequestby:
4241 6 (a)Anycitywithlessthanonethousandfivehundredinhabitantslocatedina
4342 7nonchartercountyotherthanacountywithmorethaneightythousandbutfewerthan
4443 8onehundredthousandinhabitantsandwithacountyseatwithmorethanseventy
4544 9thousandbutfewerthaneightythousandinhabitants;or
4645 10 (b)Anyunincorporatedcommunitylocatedinanonchartercountyotherthana
4746 11countywithmorethaneightythousandbutfewerthanonehundredthousand
4847 12inhabitantsandwithacountyseatwithmorethanseventythousandbutfewerthan
4948 13eightythousandinhabitants;
5049 14
5150 15thecountycommissionshallestablishalandbankagencyforthemanagement,sale,
5251 16transfer,andotherdispositionofinterestsinrealestateownedbysuchlandbank
5352 17agency.
5453 18 (3)Any[such] landbankagencyestablishedundersubdivisions(1)or(2)ofthis
5554 19subsectionshallbeestablishedtofosterthepublicpurposeofreturningland,includingland
5655 20thatisinanonrevenue-generating,nontax-producingstatus,touseinprivateownership.
5756 21 (4)Acitydescribedundersubdivision(1)ofthissubsectionmay,andacounty
5857 22describedundersubdivision(2)ofthissubsectionshall,establishalandbankagencyby
5958 23ordinance,resolution,orrule,asapplicable.
6059 24 2.Alandbankagencyestablishedbyacityshallnotownanyinterestinrealestate
6160 25locatedwhollyorpartiallyoutsidethecitythatestablishedthelandbank.
6261 26 3.Thebeneficiariesofthelandbankagencyshallbethetaxingauthoritiesthatheld
6362 27orownedtaxbillsagainsttherespectiveparcelsofrealestateacquiredbysuchlandbank
6463 28agencypursuanttoasaleconductedundersection140.190,140.240,or140.250,andtheir
6564 29respectiveinterestsineachparcelofrealestateshallbetotheextentandinproportiontothe
6665 HCSHB2177 2 30prioritiesdeterminedbythecourtonthebasisthattheprincipalamountoftheirrespectivetax
6766 31billsboretothetotalprincipalamountofallofthetaxbillsdescribedinthejudgment.
6867 32 4.Alandbankagencycreatedunderthelandbankactshallbeapublicbody
6968 33corporateandpoliticandshallhavepermanentandperpetualdurationuntilterminatedand
7069 34dissolvedinaccordancewiththeprovisionsofsection140.1012.
7170 140.982.Thegoverningbodyofthecityestablishingalandbankagency,[or]the
7271 2chiefadministrativeofficerofthecityestablishingalandbankagency,orthegoverning
7372 3bodyofthecountyestablishingalandbankagencyshallhavethepowertoorganizeand
7473 4reorganizetheexecutive,administrative,clerical,andotherdepartmentsofthelandbank
7574 5agencyandtofixtheduties,powers,andcompensationofallemployees,agents,and
7675 6consultantsofthelandbankagency.Alandbankagencymayemployasecretary,an
7776 7executivedirector,itsowncounselandlegalstaff,technicalexperts,andotheragentsand
7877 8employees,permanentortemporary,asitmayrequireandmaydeterminethequalifications
7978 9andfixthecompensationandbenefitsofsuchpersons.Alandbankagencymayalsoenter
8079 10intocontractsandagreementswithpoliticalsubdivisionsforstaffingservicestobeprovided
8180 11tothelandbankagencybypoliticalsubdivisionsoragenciesordepartmentsthereof,orfora
8281 12landbankagencytoprovidesuchstaffingservicestopoliticalsubdivisionsoragenciesor
8382 13departmentsthereof.
8483 140.983.Alandbankagencyestablishedunderthelandbankactshallhaveall
8584 2powersnecessaryorappropriatetocarryoutandeffectuatethepurposesandprovisionsofthe
8685 3landbankact,includingthefollowingpowersinadditiontothosehereinotherwisegranted:
8786 4 (1)Toadopt,amend,andrepealbylawsfortheregulationofitsaffairsandthe
8887 5conductofitsbusiness;
8988 6 (2)Tosueandbesued,initsownname,andpleadandbeimpleadedinallcivil
9089 7actionsincluding,butnotlimitedto,actionstocleartitletopropertyofthelandbankagency;
9190 8 (3)Toadoptasealandtoalterthesameatpleasure;
9291 9 (4)Toborrowfromprivatelenders,politicalsubdivisions,thestate,andthefederal
9392 10governmentasmaybenecessaryfortheoperationandworkofthelandbankagency;
9493 11 (5)Toissuenotesandotherobligationsaccordingtotheprovisionsofthischapter;
9594 12 (6)Toprocureinsuranceorguaranteesfrompoliticalsubdivisions,thestate,the
9695 13federalgovernment,oranyotherpublicorprivatesourcesofthepaymentofanybond,note,
9796 14loan,orotherobligation,orportionthereof,incurredbythelandbankagencyandtopayany
9897 15feesorpremiumsinconnectiontherewith;
9998 16 (7)Toenterintocontractsandotherinstrumentsnecessary,incidental,orconvenient
10099 17totheperformanceofitsdutiesandtheexerciseofitspowersincluding,butnotlimitedto,
101100 18agreementswithotherlandbankagenciesandwithpoliticalsubdivisionsforthejoint
102101 19exerciseofpowersunderthischapter;
103102 HCSHB2177 3 20 (8)Toenterintocontractsandotherinstrumentsnecessary,incidental,orconvenient
104103 21to:
105104 22 (a)Theperformanceoffunctionsbythelandbankagencyonbehalfofpolitical
106105 23subdivisions,oragenciesordepartmentsthereof;or
107106 24 (b)Theperformancebypoliticalsubdivisions,oragenciesordepartmentsthereof,of
108107 25functionsonbehalfofthelandbankagency;
109108 26 (9)Tomakeandexecutecontractsandotherinstrumentsnecessaryorconvenientto
110109 27theexerciseofthepowersofthelandbankagency.Anycontractorinstrumentifsignedboth
111110 28bytheexecutivedirectorofthelandbankagencyandbythesecretary,assistantsecretary,
112111 29treasurer,orassistanttreasurerofthelandbankagency,orbyanauthorizedfacsimile
113112 30signatureofanysuchpositions,shallbeheldtohavebeenproperlyexecutedforandonits
114113 31behalf;
115114 32 (10)Toprocureinsuranceagainstlossesinconnectionwiththeproperty,assets,or
116115 33activitiesofthelandbankagency;
117116 34 (11)Toinvestthemoneysofthelandbankagency,includingamountsdepositedin
118117 35reserveorsinkingfunds,atthediscretionofthelandbankagencyininstruments,obligations,
119118 36securities,orpropertydeterminedproperbythelandbankagencyandtonameanduse
120119 37depositoriesforitsmoneys;
121120 38 (12)Toenterintocontractsforthemanagementof,thecollectionofrentfrom,orthe
122121 39saleofthepropertyofthelandbankagency;
123122 40 (13)Todesign,develop,construct,demolish,reconstruct,rehabilitate,renovate,
124123 41relocate,equip,furnish,andotherwiseimproverealpropertyorrightsorinterestsinreal
125124 42propertyheldbythelandbankagency;
126125 43 (14)Tofix,charge,andcollectrents,fees,andchargesfortheuseofthepropertyof
127126 44thelandbankagencyandforservicesprovidedbythelandbankagency;
128127 45 (15)Toacquireproperty,whetherbypurchase,exchange,gift,lease,orotherwise,
129128 46exceptnotpropertynotwhollylocatedinthecityorcountythatestablishedthelandbank
130129 47agency;tograntoracquirelicensesandeasements;andtosell,lease,grantanoptionwith
131130 48respectto,orotherwisedisposeof,anypropertyofthelandbankagency;
132131 49 (16)Toenterintopartnerships,jointventures,andothercollaborativerelationships
133132 50withpoliticalsubdivisionsandotherpublicandprivateentitiesfortheownership,
134133 51management,development,anddispositionofrealproperty,exceptnotforpropertynot
135134 52whollylocatedinthecitythatestablishedthelandbankagency;and
136135 53 (17)Subjecttotheotherprovisionsofthischapterandallotherapplicablelaws,todo
137136 54allotherthingsnecessaryorconvenienttoachievetheobjectivesandpurposesoftheland
138137 55bankagencyorotherlawsthatrelatetothepurposesandresponsibilityofthelandbank
139138 56agency.
140139 HCSHB2177 4 140.985.1.Alandbankagencyshallholdinitsownnameallrealpropertyacquired
141140 2bysuchlandbankagencyirrespectiveoftheidentityofthetransferorofsuchproperty.
142141 3 2.Alandbankagencyshallmaintainandmakeavailableforpublicreviewand
143142 4inspectionaninventoryandhistoryofallrealpropertythelandbankagencyholdsor
144143 5formerlyheld.Thisinventoryandhistoryshallbeavailableonthelandbankagency's
145144 6websiteandincludeataminimum:
146145 7 (1)Whetheraparcelisavailableforsale;
147146 8 (2)Theaddressoftheparcelifanaddresshasbeenassigned;
148147 9 (3)Theparcelnumberifnoaddresshasbeenassigned;
149148 10 (4)Theyearthataparcelenteredthelandbankagency'sinventory;
150149 11 (5)Whetheraparcelhassold;and
151150 12 (6)Ifaparcelhassold,thenameofthepersonorentitytowhichitwassold.
152151 13 3.Thelandbankagencyshalldetermineandsetforthinpoliciesandproceduresthe
153152 14generaltermsandconditionsforconsiderationtobereceivedbythelandbankagencyforthe
154153 15transferofrealpropertyandinterestsinrealproperty.Considerationmaytaketheformof
155154 16monetarypaymentsandsecuredfinancialobligations,covenants,andconditionsrelatedtothe
156155 17presentandfutureuseoftheproperty;contractualcommitmentsofthetransferee;andsuch
157156 18otherformsofconsiderationasthelandbankagencydeterminestobeinthebestinterestof
158157 19itspurpose.
159158 20 4.Alandbankagencymayconvey,exchange,sell,transfer,lease,grant,releaseand
160159 21demise,pledge,andhypothecateanyandallinterestsin,upon,ortopropertyofthelandbank
161160 22agency.Alandbankagencymaygiftanyinterestin,upon,ortopropertytothecitythat
162161 23establishedthelandbankagency.
163162 24 5.Acitymay,initsresolutionorordinancecreatingalandbankagency,establisha
164163 25hierarchicalrankingofprioritiesfortheuseofrealpropertyconveyedbysuchlandbank
165164 26agency,subjecttosubsection7ofthissection,including,butnotlimitedto:
166165 27 (1)Useforpurelypublicspacesandplaces;
167166 28 (2)Useforaffordablehousing;
168167 29 (3)Useforretail,commercial,andindustrialactivities;
169168 30 (4)Useaswildlifeconservationareas;and
170169 31 (5)Suchotherusesandinsuchhierarchicalorderasdeterminedbysuchcityor
171170 32county.
172171 33
173172 34Ifacityorcounty, initsresolutionorordinancecreatingalandbankagency,establishes
174173 35prioritiesfortheuseofrealpropertyconveyedbythelandbankagency,suchprioritiesshall
175174 36beconsistentwithandnomorerestrictivethanmunicipalorcountyplanningandzoning
176175 37ordinances.
177176 HCSHB2177 5 38 6.Thelandbankagencymaydelegatetoofficersandemployeestheauthorityto
178177 39enterintoandexecuteagreements,instrumentsofconveyance,andallotherrelated
179178 40documentspertainingtotheconveyanceofpropertybythelandbankagency.
180179 41 7.Alandbankagencyshallonlyacceptwrittenoffersequaltoorgreaterthanthefull
181180 42amountofalltaxbills,interest,penalties,attorney'sfees,andcostsonrealpropertyto
182181 43purchasetherealpropertyheldbythelandbankagency.
183182 44 8.Whenanyparcelofrealestateacquiredbyalandbankagencyissoldorotherwise
184183 45disposedofbysuchlandbankagency,theproceedstherefromshallbeappliedanddistributed
185184 46inthefollowingorder:
186185 47 (1)Tothepaymentoftheexpensesofthesale;
187186 48 (2)Tofulfilltherequirementsoftheresolution,indenture,orotherfinancing
188187 49documentsadoptedorenteredintoinconnectionwithbonds,notes,orotherobligationsofthe
189188 50landbankagency,totheextentthatsuchrequirementsmayapplywithrespecttosuchparcel
190189 51ofrealestate;
191190 52 (3)Tothebalancetoberetainedbythelandbankagencytopaythesalariesandother
192191 53expensesofsuchlandbankagencyandofitsemployeesasprovidedforinitsannualbudget;
193192 54and
194193 55 (4)Anyfundsinexcessofthosenecessarytomeettheexpensesoftheannualbudget
195194 56ofthelandbankagencyinanyfiscalyearandareasonablesumtocarryoverintothenext
196195 57fiscalyeartoassurethatsufficientfundswillbeavailabletomeetinitialexpensesforthat
197196 58nextfiscalyear,exclusiveofnetprofitfromthesaleofancillaryparcels,shallbepaidtothe
198197 59respectivetaxingauthoritiesthat,atthetimeofthedistribution,aretaxingtherealproperty
199198 60fromwhichtheproceedsarebeingdistributed.Thedistributionsshallbeinproportiontothe
200199 61amountsofthetaxesleviedonthepropertiesbythetaxingauthorities.Distributionshallbe
201200 62madeonJanuaryfirstandJulyfirstofeachyear,andatsuchothertimesasthelandbank
202201 63agencymaydetermine.
203202 64 9.Whenanyancillaryparcelissoldorotherwisedisposedofbysuchlandbank
204203 65agency,theproceedstherefromshallbeappliedanddistributedinthefollowingorder:
205204 66 (1)Tothepaymentofalllandtaxesandrelatedchargesthendueonsuchparcel;
206205 67 (2)Tothepaymentoftheexpensesofsale;
207206 68 (3)Tofulfilltherequirementsoftheresolution,indenture,orotherfinancing
208207 69documentsadoptedorenteredintoinconnectionwithbonds,notes,orotherobligationsofthe
209208 70landbankagency,totheextentthatsuchrequirementsmayapplywithrespecttosuchparcel
210209 71ofrealestate;
211210 72 (4)Tothebalancetoberetainedbythelandbankagencytopaythesalariesandother
212211 73expensesofsuchlandbankagencyandofitsemployeesasprovidedforinitsannualbudget;
213212 74and
214213 HCSHB2177 6 75 (5)Anyfundsinexcessofthosenecessarytomeettheexpensesoftheannualbudget
215214 76ofthelandbankagencyinanyfiscalyear,andareasonablesumtocarryoverintothenext
216215 77fiscalyeartoassurethatsufficientfundswillbeavailabletomeetinitialexpensesforthat
217216 78nextfiscalyear,shallbepaidinaccordancewithsubdivision(4)ofsubsection8ofthis
218217 79section.
219218 80 10.Ifalandbankagencyownsmorethanfiveparcelsofrealpropertyinasinglecity
220219 81blockandnowrittenoffertopurchaseanyofthosepropertieshasbeensubmittedtothe
221220 82agencyinthepasttwelvemonths,thelandbankagencyshallreduceitsrequestedpricefor
222221 83thosepropertiesandadvertisethediscountpublicly.
223222 140.986.1.Nolaterthantwoyearsfromthedateitacquiredtheproperty,aland
224223 2bankagencyshalleithersell,puttoaproductiveuse,orshowsignificantprogresstowards
225224 3sellingorputtingtoaproductiveuseaparcelofrealproperty.Aproductiveusemaybe
226225 4rentingtheproperty;demolishingallstructuresoftheproperty;restoringpropertyofhistoric
227226 5value;orusingthepropertyforacommunitygarden,park,orotheropenpublicspace.
228227 6 2.Thegoverningbodyofthecityorcountymaygrantthelandbankagencyaone-
229228 7yearextensionifthebodydeterminesbyamajorityvotethatunforeseencircumstanceshave
230229 8delayedthesaleorproductiveuseofaparcelofproperty.
231230 9 3.Ifalandbankagencyownsaparcelofrealpropertythatdoesnothaveaproductive
232231 10useaftertwoyears,ordoesnotreceiveanextensionundersubsection2ofthissection,the
233232 11propertyshallbeofferedforpublicsaleusingtheproceduresundersections140.170to
234233 12140.190.
235234 140.991.1.Thereshallbeanannualauditoftheaffairs,accounts,expenses,and
236235 2financialtransactionsofalandbankagencybyacertifiedpublicaccountantbeforeApril
237236 3thirtiethofeachyear,whichaccountantshallbeemployedbythelandbankagencyonor
238237 4beforeMarchfirstofeachyear.Certifiedcopiesoftheauditshallbefurnishedtothecityor
239238 5countythatestablishedthelandbankagency,andthecityorcountyshallposttheauditonits
240239 6publicwebsite.Copiesoftheauditshallalsobeavailableforpublicinspectionattheoffice
241240 7ofthelandbankagency.
242241 8 2.Thelandbankagencymaybeperformanceauditedatanytimebythestateauditor
243242 9orbytheauditorofthecityorcountythatestablishedthelandbankagency.Thecostofsuch
244243 10auditshallbepaidbythelandbankagency,andcopiesshallbemadeavailabletothepublic
245244 11andpostedonthelandbankagency'swebsitewithinthirtydaysofthecompletionofthe
246245 12audit.
247246 140.1009.1.Alandbankagencyshallbeauthorizedtofileanactiontoquiettitle
248247 2undersection527.150astoanyrealpropertyinwhichthelandbankagencyhasaninterest.
249248 3Forpurposesofanyandallsuchactions,thelandbankagencyshallbedeemedtobethe
250249 HCSHB2177 7 4holderofsufficientlegalandequitableinterests,andpossessoryrights,soastoqualifythe
251250 5landbankagencyasanadequatepetitionerinsuchaction.
252251 6 2.Priortothefilingofanactiontoquiettitle,thelandbankagencyshallconductan
253252 7examinationoftitletodeterminetheidentityofanyandallpersonsandentitiespossessinga
254253 8claimorinterestinortotherealproperty.Serviceofthepetitiontoquiettitleshallbe
255254 9providedtoallsuchinterestedpartiesbythefollowingmethods:
256255 10 (1)Registeredorcertifiedmailtosuchidentityandaddressasreasonably
257256 11ascertainablebyaninspectionofpublicrecords;
258257 12 (2)Inthecaseofoccupiedrealproperty,byfirstclassmailaddressedto"Occupant";
259258 13 (3)Bypostingacopyofthenoticeontherealproperty;
260259 14 (4)Bypublicationinanewspaperofgeneralcirculationinthecityorcountyin
261260 15whichthepropertyislocated;and
262261 16 (5)Suchothermethodsasthecourtmayorder.
263262 17 3.Aspartofthepetitiontoquiettitle,thelandbankagencyshallfileanaffidavit
264263 18identifyingallpartiespotentiallyhavinganinterestintherealpropertyandtheformofnotice
265264 19provided.
266265 20 4.Thecourtshallscheduleahearingonthepetitionwithinninetydaysfollowing
267266 21filingofthepetitionand,astoallmattersuponwhichananswerwasnotfiledbyaninterested
268267 22party,thecourtshallissueitsfinaljudgmentwithinonehundredtwentydaysofthefilingof
269268 23thepetition.
270269 24 5.Alandbankagencyshallbeauthorizedtojoininasinglepetitiontoquiettitleone
271270 25ormoreparcelsofrealproperty.
272271 140.1012.1.Alandbankagencymaybedissolvedasapublicbodycorporateand
273272 2politicnosoonerthansixtycalendardaysafteranordinanceorresolutionforsuchdissolution
274273 3ispassedbythecityorcountythatestablishedthelandbankagency.
275274 4 2.Nolessthansixtycalendardays'advancewrittennoticeofconsiderationofsuchan
276275 5ordinanceorresolutionofdissolutionshallbegiventothelandbankagency,shallbe
277276 6publishedinalocalnewspaperofgeneralcirculationwithinsuchcityorcounty, andshallbe
278277 7sentcertifiedmailtoeachtrusteeofanyoutstandingbondsofthelandbankagency.
279278 8 3.Nolandbankagencyshallbedissolvedwhilethereremainsanyoutstandingbonds,
280279 9notes,orotherobligationsofthelandbankagencyunlesssuchbonds,notes,orother
281280 10obligationsarepaidordefeasedpursuanttotheresolution,indenture,orotherfinancing
282281 11documentunderwhichsuchbonds,notes,orotherobligationswereissuedpriortoor
283282 12simultaneouslywithsuchdissolution.
284283 13 4.Upondissolutionofalandbankagencypursuanttothissection,allrealproperty,
285284 14personalproperty,andotherassetsofthelandbankagencyshallbetransferredbyappropriate
286285 15writteninstrumenttoandshallbecometheassetsofthecityorcountythatestablishedthe
287286 HCSHB2177 8 16landbankagency.Suchcityorcountyshallactexpeditiouslytoreturnsuchrealpropertyto
288287 17thetaxrollsandshallmarketandsellsuchrealpropertyusinganopen,publicmethodthat
289288 18ensuresthebestpossiblepricesarerealizedwhileensuringsuchrealpropertyisreturnedtoa
290289 19suitable,productiveuseforthebettermentoftheneighborhoodinwhichsuchrealpropertyis
291290 20located.Anysuchrealpropertythatwasacquiredbythedissolvedlandbankagency
292291 21pursuanttoasaleconductedundersection140.190,140.240,or140.250shallbeheldbythe
293292 22cityorcountyintrustforthetaxbillownersandtaxingauthoritieshavinganinterestinany
294293 23taxlienswhichwereforeclosed,astheirinterestsmayappearinthejudgmentofforeclosure
295294 24and,uponthesaleorotherdispositionofanysuchpropertybysuchcityorcounty, the
296295 25proceedstherefromshallbeappliedanddistributedinthefollowingorder:
297296 26 (1)Tothepaymentoftheexpensesofsale;
298297 27 (2)Tothereasonablecostsincurredbysuchcityorcountyinmaintainingand
299298 28marketingsuchproperty;and
300299 29 (3)Thebalanceshallbepaidtotherespectivetaxingauthoritiesthat,atthetimeof
301300 30thedistribution,aretaxingtherealpropertyfromwhichtheproceedsarebeingdistributed.
302301 âś”
303302 HCSHB2177 9