12-5908.   Same; sale of property;conditions.(a) The board, without competitive bidding, may sell anyproperty acquired by the board at such times, to such persons, and upon suchterms and conditions, and subject to such restrictions and covenants deemednecessary or appropriate to assure the property's effective reutilization. Thesale of any real property by the board under the provisions of this act onwhich there are delinquent special assessments to finance public improvementsshall be conditioned upon the approval of the governing body of themunicipality which levied the special assessments.

      (b)   The board, for purposes of land disposition, may consolidate, assembleor subdivide individual parcels of property acquired by the bank.

      History:   L. 2009, ch. 120, § 8; July 1.