12-5907.   Same; administration of property; duties ofboard.The board shall assume possession and control of anyproperty acquired by it under this act and shall hold and administer suchproperty. In the administration of property, the board shall:

      (a)   Manage, maintain and protect or temporarily use for a public purposesuch property in the manner the board deems appropriate;

      (b)   compile and maintain a written inventory of all such property. Theinventory shall be available for public inspection and distribution at alltimes;

      (c)   study, analyze and evaluate potential, present and future uses for suchproperty which would provide for the effective reutilization of such property;

      (d)   plan for and use the board's best efforts to consummate the sale orotherdisposition of such property at such times and upon such terms and conditionsdeemed appropriate;

      (e)   establish and maintain records and accounts reflecting all transactions,expenditures and revenues relating to the bank's activities, including separateitemizations of all transactions, expenditures and revenues concerning eachindividual parcel of property acquired; and

      (f)   thirty days prior to the sale of any property owned by the bank, publishanotice in the official city newspaper announcing such sale.

      History:   L. 2009, ch. 120, § 7; July 1.