12-5908. Same; sale of property; conditions.
12-5908
12-5908. Same; sale of property;
conditions.
(a) The board, without competitive bidding, may sell any
property acquired by the board at such times, to such persons, and upon such
terms and conditions, and subject to such restrictions and covenants deemed
necessary or appropriate to assure the property's effective reutilization. The
sale of any real property by the board under the provisions of this act on
which there are delinquent special assessments to finance public improvements
shall be conditioned upon the approval of the governing body of the
municipality which levied the special assessments.
(b) The board, for purposes of land disposition, may consolidate, assemble
or subdivide individual parcels of property acquired by the bank.
History: L. 2009, ch. 120, § 8; July 1.