SECONDREGULARSESSION
[PERFECTED]
HOUSECOMMITTEESUBSTITUTEFOR
HOUSEBILLNO.2177
101STGENERALASSEMBLY
4218H.02P DANARADEMANMILLER,ChiefClerk
ANACT
Torepealsections140.980,140.981,140.982,140.983,140.985,140.986,140.991,
140.1009,and140.1012,RSMo,andtoenactinlieuthereofninenewsections
relatingtolandbankagencies.
BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
SectionA.Sections140.980,140.981,140.982,140.983,140.985,140.986,140.991,
2140.1009,and140.1012,RSMo,arerepealedandninenewsectionsenactedinlieuthereof,to
3beknownassections140.980,140.981,140.982,140.983,140.985,140.986,140.991,
4140.1009,and140.1012,toreadasfollows:
140.980.1.Sections140.980to140.1015shallbeknownandmaybecitedasthe
2"LandBankAct".
3 2.Asusedinsections140.980to140.1015,thefollowingtermsmean:
4 (1)"Ancillaryparcel",aparcelofrealestateacquiredbyalandbankagencyother
5thananysaleconductedundersection140.190,140.240,or140.250;
6 (2)"Landbankagency",anagencyestablishedbyacityornonchartercountyother
7thanacountywithmorethaneightythousandbutfewerthanonehundredthousand
8inhabitantsandwithacountyseatwithmorethanseventythousandbutfewerthan
9eightythousandinhabitantsundertheauthorityofsection140.981;
10 (3)"Landtaxes",taxesonrealpropertyorrealestate,includingthetaxesbothonthe
11landandtheimprovementsthereon;
12 (4)"Politicalsubdivision",anycounty,city,town,village,schooldistrict,library
13district,oranyotherpublicsubdivisionorpubliccorporationthathasthepowertotax;
EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 14 (5)"Reserveperiodtaxes",landtaxesassessedagainstanyparcelofrealestatesold
15orotherwisedisposedofbyalandbankagencyforthefirstthreetaxyearsfollowingsuch
16saleordisposition;
17 (6)"Taxbill",realestatetaxesandthelienthereof,whethergeneralorspecial,levied
18andassessedbyanytaxingauthority;
19 (7)"Taxingauthority",anygovernmental,managing,administering,orotherlawful
20authority,noworhereafterempoweredbylawtoissuetaxbills.
140.981.1.(1)Any[homerulecitywithmorethanseventy-onethousandbutfewer
2thanseventy-ninethousandinhabitants] citywithonethousandfivehundredormore
3inhabitantsmayestablishalandbankagencyforthemanagement,sale,transfer,andother
4dispositionofinterestsinrealestateownedbysuchlandbankagency.
5 (2)Uponrequestby:
6 (a)Anycitywithlessthanonethousandfivehundredinhabitantslocatedina
7nonchartercountyotherthanacountywithmorethaneightythousandbutfewerthan
8onehundredthousandinhabitantsandwithacountyseatwithmorethanseventy
9thousandbutfewerthaneightythousandinhabitants;or
10 (b)Anyunincorporatedcommunitylocatedinanonchartercountyotherthana
11countywithmorethaneightythousandbutfewerthanonehundredthousand
12inhabitantsandwithacountyseatwithmorethanseventythousandbutfewerthan
13eightythousandinhabitants;
14
15thecountycommissionshallestablishalandbankagencyforthemanagement,sale,
16transfer,andotherdispositionofinterestsinrealestateownedbysuchlandbank
17agency.
18 (3)Any[such] landbankagencyestablishedundersubdivisions(1)or(2)ofthis
19subsectionshallbeestablishedtofosterthepublicpurposeofreturningland,includingland
20thatisinanonrevenue-generating,nontax-producingstatus,touseinprivateownership.
21 (4)Acitydescribedundersubdivision(1)ofthissubsectionmay,andacounty
22describedundersubdivision(2)ofthissubsectionshall,establishalandbankagencyby
23ordinance,resolution,orrule,asapplicable.
24 2.Alandbankagencyestablishedbyacityshallnotownanyinterestinrealestate
25locatedwhollyorpartiallyoutsidethecitythatestablishedthelandbank.
26 3.Thebeneficiariesofthelandbankagencyshallbethetaxingauthoritiesthatheld
27orownedtaxbillsagainsttherespectiveparcelsofrealestateacquiredbysuchlandbank
28agencypursuanttoasaleconductedundersection140.190,140.240,or140.250,andtheir
29respectiveinterestsineachparcelofrealestateshallbetotheextentandinproportiontothe
HCSHB2177 2 30prioritiesdeterminedbythecourtonthebasisthattheprincipalamountoftheirrespectivetax
31billsboretothetotalprincipalamountofallofthetaxbillsdescribedinthejudgment.
32 4.Alandbankagencycreatedunderthelandbankactshallbeapublicbody
33corporateandpoliticandshallhavepermanentandperpetualdurationuntilterminatedand
34dissolvedinaccordancewiththeprovisionsofsection140.1012.
140.982.Thegoverningbodyofthecityestablishingalandbankagency,[or]the
2chiefadministrativeofficerofthecityestablishingalandbankagency,orthegoverning
3bodyofthecountyestablishingalandbankagencyshallhavethepowertoorganizeand
4reorganizetheexecutive,administrative,clerical,andotherdepartmentsofthelandbank
5agencyandtofixtheduties,powers,andcompensationofallemployees,agents,and
6consultantsofthelandbankagency.Alandbankagencymayemployasecretary,an
7executivedirector,itsowncounselandlegalstaff,technicalexperts,andotheragentsand
8employees,permanentortemporary,asitmayrequireandmaydeterminethequalifications
9andfixthecompensationandbenefitsofsuchpersons.Alandbankagencymayalsoenter
10intocontractsandagreementswithpoliticalsubdivisionsforstaffingservicestobeprovided
11tothelandbankagencybypoliticalsubdivisionsoragenciesordepartmentsthereof,orfora
12landbankagencytoprovidesuchstaffingservicestopoliticalsubdivisionsoragenciesor
13departmentsthereof.
140.983.Alandbankagencyestablishedunderthelandbankactshallhaveall
2powersnecessaryorappropriatetocarryoutandeffectuatethepurposesandprovisionsofthe
3landbankact,includingthefollowingpowersinadditiontothosehereinotherwisegranted:
4 (1)Toadopt,amend,andrepealbylawsfortheregulationofitsaffairsandthe
5conductofitsbusiness;
6 (2)Tosueandbesued,initsownname,andpleadandbeimpleadedinallcivil
7actionsincluding,butnotlimitedto,actionstocleartitletopropertyofthelandbankagency;
8 (3)Toadoptasealandtoalterthesameatpleasure;
9 (4)Toborrowfromprivatelenders,politicalsubdivisions,thestate,andthefederal
10governmentasmaybenecessaryfortheoperationandworkofthelandbankagency;
11 (5)Toissuenotesandotherobligationsaccordingtotheprovisionsofthischapter;
12 (6)Toprocureinsuranceorguaranteesfrompoliticalsubdivisions,thestate,the
13federalgovernment,oranyotherpublicorprivatesourcesofthepaymentofanybond,note,
14loan,orotherobligation,orportionthereof,incurredbythelandbankagencyandtopayany
15feesorpremiumsinconnectiontherewith;
16 (7)Toenterintocontractsandotherinstrumentsnecessary,incidental,orconvenient
17totheperformanceofitsdutiesandtheexerciseofitspowersincluding,butnotlimitedto,
18agreementswithotherlandbankagenciesandwithpoliticalsubdivisionsforthejoint
19exerciseofpowersunderthischapter;
HCSHB2177 3 20 (8)Toenterintocontractsandotherinstrumentsnecessary,incidental,orconvenient
21to:
22 (a)Theperformanceoffunctionsbythelandbankagencyonbehalfofpolitical
23subdivisions,oragenciesordepartmentsthereof;or
24 (b)Theperformancebypoliticalsubdivisions,oragenciesordepartmentsthereof,of
25functionsonbehalfofthelandbankagency;
26 (9)Tomakeandexecutecontractsandotherinstrumentsnecessaryorconvenientto
27theexerciseofthepowersofthelandbankagency.Anycontractorinstrumentifsignedboth
28bytheexecutivedirectorofthelandbankagencyandbythesecretary,assistantsecretary,
29treasurer,orassistanttreasurerofthelandbankagency,orbyanauthorizedfacsimile
30signatureofanysuchpositions,shallbeheldtohavebeenproperlyexecutedforandonits
31behalf;
32 (10)Toprocureinsuranceagainstlossesinconnectionwiththeproperty,assets,or
33activitiesofthelandbankagency;
34 (11)Toinvestthemoneysofthelandbankagency,includingamountsdepositedin
35reserveorsinkingfunds,atthediscretionofthelandbankagencyininstruments,obligations,
36securities,orpropertydeterminedproperbythelandbankagencyandtonameanduse
37depositoriesforitsmoneys;
38 (12)Toenterintocontractsforthemanagementof,thecollectionofrentfrom,orthe
39saleofthepropertyofthelandbankagency;
40 (13)Todesign,develop,construct,demolish,reconstruct,rehabilitate,renovate,
41relocate,equip,furnish,andotherwiseimproverealpropertyorrightsorinterestsinreal
42propertyheldbythelandbankagency;
43 (14)Tofix,charge,andcollectrents,fees,andchargesfortheuseofthepropertyof
44thelandbankagencyandforservicesprovidedbythelandbankagency;
45 (15)Toacquireproperty,whetherbypurchase,exchange,gift,lease,orotherwise,
46exceptnotpropertynotwhollylocatedinthecityorcountythatestablishedthelandbank
47agency;tograntoracquirelicensesandeasements;andtosell,lease,grantanoptionwith
48respectto,orotherwisedisposeof,anypropertyofthelandbankagency;
49 (16)Toenterintopartnerships,jointventures,andothercollaborativerelationships
50withpoliticalsubdivisionsandotherpublicandprivateentitiesfortheownership,
51management,development,anddispositionofrealproperty,exceptnotforpropertynot
52whollylocatedinthecitythatestablishedthelandbankagency;and
53 (17)Subjecttotheotherprovisionsofthischapterandallotherapplicablelaws,todo
54allotherthingsnecessaryorconvenienttoachievetheobjectivesandpurposesoftheland
55bankagencyorotherlawsthatrelatetothepurposesandresponsibilityofthelandbank
56agency.
HCSHB2177 4 140.985.1.Alandbankagencyshallholdinitsownnameallrealpropertyacquired
2bysuchlandbankagencyirrespectiveoftheidentityofthetransferorofsuchproperty.
3 2.Alandbankagencyshallmaintainandmakeavailableforpublicreviewand
4inspectionaninventoryandhistoryofallrealpropertythelandbankagencyholdsor
5formerlyheld.Thisinventoryandhistoryshallbeavailableonthelandbankagency's
6websiteandincludeataminimum:
7 (1)Whetheraparcelisavailableforsale;
8 (2)Theaddressoftheparcelifanaddresshasbeenassigned;
9 (3)Theparcelnumberifnoaddresshasbeenassigned;
10 (4)Theyearthataparcelenteredthelandbankagency'sinventory;
11 (5)Whetheraparcelhassold;and
12 (6)Ifaparcelhassold,thenameofthepersonorentitytowhichitwassold.
13 3.Thelandbankagencyshalldetermineandsetforthinpoliciesandproceduresthe
14generaltermsandconditionsforconsiderationtobereceivedbythelandbankagencyforthe
15transferofrealpropertyandinterestsinrealproperty.Considerationmaytaketheformof
16monetarypaymentsandsecuredfinancialobligations,covenants,andconditionsrelatedtothe
17presentandfutureuseoftheproperty;contractualcommitmentsofthetransferee;andsuch
18otherformsofconsiderationasthelandbankagencydeterminestobeinthebestinterestof
19itspurpose.
20 4.Alandbankagencymayconvey,exchange,sell,transfer,lease,grant,releaseand
21demise,pledge,andhypothecateanyandallinterestsin,upon,ortopropertyofthelandbank
22agency.Alandbankagencymaygiftanyinterestin,upon,ortopropertytothecitythat
23establishedthelandbankagency.
24 5.Acitymay,initsresolutionorordinancecreatingalandbankagency,establisha
25hierarchicalrankingofprioritiesfortheuseofrealpropertyconveyedbysuchlandbank
26agency,subjecttosubsection7ofthissection,including,butnotlimitedto:
27 (1)Useforpurelypublicspacesandplaces;
28 (2)Useforaffordablehousing;
29 (3)Useforretail,commercial,andindustrialactivities;
30 (4)Useaswildlifeconservationareas;and
31 (5)Suchotherusesandinsuchhierarchicalorderasdeterminedbysuchcityor
32county.
33
34Ifacityorcounty, initsresolutionorordinancecreatingalandbankagency,establishes
35prioritiesfortheuseofrealpropertyconveyedbythelandbankagency,suchprioritiesshall
36beconsistentwithandnomorerestrictivethanmunicipalorcountyplanningandzoning
37ordinances.
HCSHB2177 5 38 6.Thelandbankagencymaydelegatetoofficersandemployeestheauthorityto
39enterintoandexecuteagreements,instrumentsofconveyance,andallotherrelated
40documentspertainingtotheconveyanceofpropertybythelandbankagency.
41 7.Alandbankagencyshallonlyacceptwrittenoffersequaltoorgreaterthanthefull
42amountofalltaxbills,interest,penalties,attorney'sfees,andcostsonrealpropertyto
43purchasetherealpropertyheldbythelandbankagency.
44 8.Whenanyparcelofrealestateacquiredbyalandbankagencyissoldorotherwise
45disposedofbysuchlandbankagency,theproceedstherefromshallbeappliedanddistributed
46inthefollowingorder:
47 (1)Tothepaymentoftheexpensesofthesale;
48 (2)Tofulfilltherequirementsoftheresolution,indenture,orotherfinancing
49documentsadoptedorenteredintoinconnectionwithbonds,notes,orotherobligationsofthe
50landbankagency,totheextentthatsuchrequirementsmayapplywithrespecttosuchparcel
51ofrealestate;
52 (3)Tothebalancetoberetainedbythelandbankagencytopaythesalariesandother
53expensesofsuchlandbankagencyandofitsemployeesasprovidedforinitsannualbudget;
54and
55 (4)Anyfundsinexcessofthosenecessarytomeettheexpensesoftheannualbudget
56ofthelandbankagencyinanyfiscalyearandareasonablesumtocarryoverintothenext
57fiscalyeartoassurethatsufficientfundswillbeavailabletomeetinitialexpensesforthat
58nextfiscalyear,exclusiveofnetprofitfromthesaleofancillaryparcels,shallbepaidtothe
59respectivetaxingauthoritiesthat,atthetimeofthedistribution,aretaxingtherealproperty
60fromwhichtheproceedsarebeingdistributed.Thedistributionsshallbeinproportiontothe
61amountsofthetaxesleviedonthepropertiesbythetaxingauthorities.Distributionshallbe
62madeonJanuaryfirstandJulyfirstofeachyear,andatsuchothertimesasthelandbank
63agencymaydetermine.
64 9.Whenanyancillaryparcelissoldorotherwisedisposedofbysuchlandbank
65agency,theproceedstherefromshallbeappliedanddistributedinthefollowingorder:
66 (1)Tothepaymentofalllandtaxesandrelatedchargesthendueonsuchparcel;
67 (2)Tothepaymentoftheexpensesofsale;
68 (3)Tofulfilltherequirementsoftheresolution,indenture,orotherfinancing
69documentsadoptedorenteredintoinconnectionwithbonds,notes,orotherobligationsofthe
70landbankagency,totheextentthatsuchrequirementsmayapplywithrespecttosuchparcel
71ofrealestate;
72 (4)Tothebalancetoberetainedbythelandbankagencytopaythesalariesandother
73expensesofsuchlandbankagencyandofitsemployeesasprovidedforinitsannualbudget;
74and
HCSHB2177 6 75 (5)Anyfundsinexcessofthosenecessarytomeettheexpensesoftheannualbudget
76ofthelandbankagencyinanyfiscalyear,andareasonablesumtocarryoverintothenext
77fiscalyeartoassurethatsufficientfundswillbeavailabletomeetinitialexpensesforthat
78nextfiscalyear,shallbepaidinaccordancewithsubdivision(4)ofsubsection8ofthis
79section.
80 10.Ifalandbankagencyownsmorethanfiveparcelsofrealpropertyinasinglecity
81blockandnowrittenoffertopurchaseanyofthosepropertieshasbeensubmittedtothe
82agencyinthepasttwelvemonths,thelandbankagencyshallreduceitsrequestedpricefor
83thosepropertiesandadvertisethediscountpublicly.
140.986.1.Nolaterthantwoyearsfromthedateitacquiredtheproperty,aland
2bankagencyshalleithersell,puttoaproductiveuse,orshowsignificantprogresstowards
3sellingorputtingtoaproductiveuseaparcelofrealproperty.Aproductiveusemaybe
4rentingtheproperty;demolishingallstructuresoftheproperty;restoringpropertyofhistoric
5value;orusingthepropertyforacommunitygarden,park,orotheropenpublicspace.
6 2.Thegoverningbodyofthecityorcountymaygrantthelandbankagencyaone-
7yearextensionifthebodydeterminesbyamajorityvotethatunforeseencircumstanceshave
8delayedthesaleorproductiveuseofaparcelofproperty.
9 3.Ifalandbankagencyownsaparcelofrealpropertythatdoesnothaveaproductive
10useaftertwoyears,ordoesnotreceiveanextensionundersubsection2ofthissection,the
11propertyshallbeofferedforpublicsaleusingtheproceduresundersections140.170to
12140.190.
140.991.1.Thereshallbeanannualauditoftheaffairs,accounts,expenses,and
2financialtransactionsofalandbankagencybyacertifiedpublicaccountantbeforeApril
3thirtiethofeachyear,whichaccountantshallbeemployedbythelandbankagencyonor
4beforeMarchfirstofeachyear.Certifiedcopiesoftheauditshallbefurnishedtothecityor
5countythatestablishedthelandbankagency,andthecityorcountyshallposttheauditonits
6publicwebsite.Copiesoftheauditshallalsobeavailableforpublicinspectionattheoffice
7ofthelandbankagency.
8 2.Thelandbankagencymaybeperformanceauditedatanytimebythestateauditor
9orbytheauditorofthecityorcountythatestablishedthelandbankagency.Thecostofsuch
10auditshallbepaidbythelandbankagency,andcopiesshallbemadeavailabletothepublic
11andpostedonthelandbankagency'swebsitewithinthirtydaysofthecompletionofthe
12audit.
140.1009.1.Alandbankagencyshallbeauthorizedtofileanactiontoquiettitle
2undersection527.150astoanyrealpropertyinwhichthelandbankagencyhasaninterest.
3Forpurposesofanyandallsuchactions,thelandbankagencyshallbedeemedtobethe
HCSHB2177 7 4holderofsufficientlegalandequitableinterests,andpossessoryrights,soastoqualifythe
5landbankagencyasanadequatepetitionerinsuchaction.
6 2.Priortothefilingofanactiontoquiettitle,thelandbankagencyshallconductan
7examinationoftitletodeterminetheidentityofanyandallpersonsandentitiespossessinga
8claimorinterestinortotherealproperty.Serviceofthepetitiontoquiettitleshallbe
9providedtoallsuchinterestedpartiesbythefollowingmethods:
10 (1)Registeredorcertifiedmailtosuchidentityandaddressasreasonably
11ascertainablebyaninspectionofpublicrecords;
12 (2)Inthecaseofoccupiedrealproperty,byfirstclassmailaddressedto"Occupant";
13 (3)Bypostingacopyofthenoticeontherealproperty;
14 (4)Bypublicationinanewspaperofgeneralcirculationinthecityorcountyin
15whichthepropertyislocated;and
16 (5)Suchothermethodsasthecourtmayorder.
17 3.Aspartofthepetitiontoquiettitle,thelandbankagencyshallfileanaffidavit
18identifyingallpartiespotentiallyhavinganinterestintherealpropertyandtheformofnotice
19provided.
20 4.Thecourtshallscheduleahearingonthepetitionwithinninetydaysfollowing
21filingofthepetitionand,astoallmattersuponwhichananswerwasnotfiledbyaninterested
22party,thecourtshallissueitsfinaljudgmentwithinonehundredtwentydaysofthefilingof
23thepetition.
24 5.Alandbankagencyshallbeauthorizedtojoininasinglepetitiontoquiettitleone
25ormoreparcelsofrealproperty.
140.1012.1.Alandbankagencymaybedissolvedasapublicbodycorporateand
2politicnosoonerthansixtycalendardaysafteranordinanceorresolutionforsuchdissolution
3ispassedbythecityorcountythatestablishedthelandbankagency.
4 2.Nolessthansixtycalendardays'advancewrittennoticeofconsiderationofsuchan
5ordinanceorresolutionofdissolutionshallbegiventothelandbankagency,shallbe
6publishedinalocalnewspaperofgeneralcirculationwithinsuchcityorcounty, andshallbe
7sentcertifiedmailtoeachtrusteeofanyoutstandingbondsofthelandbankagency.
8 3.Nolandbankagencyshallbedissolvedwhilethereremainsanyoutstandingbonds,
9notes,orotherobligationsofthelandbankagencyunlesssuchbonds,notes,orother
10obligationsarepaidordefeasedpursuanttotheresolution,indenture,orotherfinancing
11documentunderwhichsuchbonds,notes,orotherobligationswereissuedpriortoor
12simultaneouslywithsuchdissolution.
13 4.Upondissolutionofalandbankagencypursuanttothissection,allrealproperty,
14personalproperty,andotherassetsofthelandbankagencyshallbetransferredbyappropriate
15writteninstrumenttoandshallbecometheassetsofthecityorcountythatestablishedthe
HCSHB2177 8 16landbankagency.Suchcityorcountyshallactexpeditiouslytoreturnsuchrealpropertyto
17thetaxrollsandshallmarketandsellsuchrealpropertyusinganopen,publicmethodthat
18ensuresthebestpossiblepricesarerealizedwhileensuringsuchrealpropertyisreturnedtoa
19suitable,productiveuseforthebettermentoftheneighborhoodinwhichsuchrealpropertyis
20located.Anysuchrealpropertythatwasacquiredbythedissolvedlandbankagency
21pursuanttoasaleconductedundersection140.190,140.240,or140.250shallbeheldbythe
22cityorcountyintrustforthetaxbillownersandtaxingauthoritieshavinganinterestinany
23taxlienswhichwereforeclosed,astheirinterestsmayappearinthejudgmentofforeclosure
24and,uponthesaleorotherdispositionofanysuchpropertybysuchcityorcounty, the
25proceedstherefromshallbeappliedanddistributedinthefollowingorder:
26 (1)Tothepaymentoftheexpensesofsale;
27 (2)Tothereasonablecostsincurredbysuchcityorcountyinmaintainingand
28marketingsuchproperty;and
29 (3)Thebalanceshallbepaidtotherespectivetaxingauthoritiesthat,atthetimeof
30thedistribution,aretaxingtherealpropertyfromwhichtheproceedsarebeingdistributed.
âś”
HCSHB2177 9