92.915. Accounts, how kept--expenditures, priority of. - Missouri Statutes

Accounts, how kept--expenditures, priority of.

92.915. 1. The land reutilization authority shall set up accounts onits books relating to the operation, management, or other expense of eachindividual parcel of real estate.

2. When any parcel of real estate is sold or otherwise disposed of bythe land reutilization authority, the proceeds therefrom shall be applied anddistributed in the following order, except as provided for in section 92.900:

(1) To the payment of the expenses of sale, the costs of the care,improvement, operation, acquisition, demolition, management, andadministration of such parcels of real estate as determined by the landreutilization commissioners and apportioned to such parcel;

(2) The balance to be paid to the respective taxing authorities and taxbill owners, if any, in the proportion that the principal amounts of the taxbills of each such party bears to the total principal amount of all the taxbills included in the original judgment relating to such parcel of real estateand in the order of their respective priorities.

After deduction of all sums charged to each account for various expenses,distribution shall be made to the respective taxing authorities and to taxbill owners having an interest in such parcel of real estate, on January firstand July first of each year, and at such other times as the land reutilizationcommissioners in their discretion may determine.

(L. 1971 H.B. 472 § 42, A.L. 1984 H.B. 1500)