92.875. Land reutilization authority created, purpose. - Missouri Statutes

Land reutilization authority created, purpose.

92.875. 1. There is hereby created an authority for themanagement, sale, transfer and other disposition of taxdelinquent lands, which authority shall be known as "The LandReutilization Authority of the city of ......, Missouri". Itshall have authority to accept the grant of any interest in realproperty made to it, or to accept gifts and grant in aidassistance. Such authority shall have and exercise all thepowers conferred by the provisions of sections 92.700 to 92.920necessary and incidental to the effective management, sale,transfer or other disposition of real estate acquired under andby virtue of the foreclosure of the lien for delinquent realestate taxes, as provided in sections 92.700 to 92.920, and inthe exercise of such powers, the land reutilization authorityshall be deemed to be a public corporation acting in agovernmental capacity.

2. The land reutilization authority is hereby created tofoster the public purpose of returning land which is in anonrevenue generating nontax producing status, to effectiveutilization in order to provide housing, new industry, and jobsfor the citizens of any city operating under the provisions ofsections 92.700 to 92.920 and new tax revenues for said city.

(L. 1971 H.B. 472 § 34)