12-5910. Same; use of money received from sale of property.
12-5910
12-5910. Same; use of money received from sale of
property.
(a) Except as provided in paragraph (b), any moneys derived
from the sale of property by the bank shall be retained by the bank for the
purposes and operations thereof.
(b) The board may use all or any part of the proceeds from the sale
described in paragraph (a) to reimburse any municipality for delinquent special
assessments due on such property.
History: L. 2009, ch. 120, § 10; July 1.