140.260. 1. It shall be lawful for the county commission of anycounty, and the comptroller, mayor and president of the board of assessorsof the city of St. Louis, to designate and appoint a suitable person orpersons with discretionary authority to bid at all sales to which section140.250 is applicable, and to purchase at such sales all lands or lotsnecessary to protect all taxes due and owing and prevent their loss to thetaxing authorities involved from inadequate bids.
2. Such person or persons so designated are hereby declared as tosuch purchases and as titleholders pursuant to collector's deeds issued onsuch purchases, to be trustees for the benefit of all funds entitled toparticipate in the taxes against all such lands or lots so sold.
3. Such person or persons so designated shall not be required to paythe amount bid on any such purchase but the collector's deed issuing onsuch purchase shall recite the delinquent taxes for which said lands orlots were sold, the amount due each respective taxing authority involved,and that the grantee in such deed or deeds holds title as trustee for theuse and benefit of the fund or funds entitled to the payment of the taxesfor which said lands or lots were sold.
4. The costs of all collectors' deeds, the recording of same and theadvertisement of such lands or lots shall be paid out of the countytreasury in the respective counties and such fund as may be designatedtherefor by the authorities of the city of St. Louis.
5. All lands or lots so purchased shall be sold and deeds orderedexecuted and delivered by such trustees upon order of the county commissionof the respective counties and the comptroller, mayor and president of theboard of assessors of the city of St. Louis, and the proceeds of such salesshall be applied, first, to the payment of the costs incurred and advanced,and the balance shall be distributed pro rata to the funds entitled toreceive the taxes on the lands or lots so disposed of.
6. Upon appointment of any such person or persons to act as trusteeas herein designated a certified copy of the order making such appointmentshall be delivered to the collector, and if such authority be revoked acertified copy of the revoking order shall also be delivered to thecollector.
7. Compensation to trustees as herein designated shall be payablesolely from proceeds derived from the sale of lands purchased by them assuch trustees and shall be fixed by the authorities herein designated, butnot in excess of ten percent of the price for which any such lands and lotsare sold by the trustees; provided further, that if at any such sale anyperson bid a sufficient amount to pay in full all delinquent taxes,penalties, interest and costs, then the trustees herein designated shall bewithout authority to further bid on any such land or lots.
8. If the county commission of any county does not designate andappoint a suitable person or persons as trustee or trustees, so appointed,or the trustee or trustees do not accept property after the third offeringwhere no sale occurred then it shall be at the discretion of the collectorto sell such land subsequent to the third offering of such land and lots atany time and for any amount.
140.260. 1. It shall be lawful for the county commission of anycounty, and the comptroller, mayor and president of the board of assessorsof the city of St. Louis, to designate and appoint a suitable person orpersons with discretionary authority to bid at all sales to which section140.250 is applicable, and to purchase at such sales all lands or lotsnecessary to protect all taxes due and owing and prevent their loss to thetaxing authorities involved from inadequate bids.
2. Such person or persons so designated are hereby declared as tosuch purchases and as titleholders pursuant to collector's deeds issued onsuch purchases, to be trustees for the benefit of all funds entitled toparticipate in the taxes against all such lands or lots so sold.
3. Such person or persons so designated shall not be required to paythe amount bid on any such purchase but the collector's deed issuing onsuch purchase shall recite the delinquent taxes for which said lands orlots were sold, the amount due each respective taxing authority involved,and that the grantee in such deed or deeds holds title as trustee for theuse and benefit of the fund or funds entitled to the payment of the taxesfor which said lands or lots were sold.
4. The costs of all collectors' deeds, the recording of same and theadvertisement of such lands or lots shall be paid out of the countytreasury in the respective counties and such fund as may be designatedtherefor by the authorities of the city of St. Louis.
5. All lands or lots so purchased shall be sold and deeds orderedexecuted and delivered by such trustees upon order of the county commissionof the respective counties and the comptroller, mayor and president of theboard of assessors of the city of St. Louis, and the proceeds of such salesshall be applied, first, to the payment of the costs incurred and advanced,and the balance shall be distributed pro rata to the funds entitled toreceive the taxes on the lands or lots so disposed of.
6. Upon appointment of any such person or persons to act as trusteeas herein designated a certified copy of the order making such appointmentshall be delivered to the collector, and if such authority be revoked acertified copy of the revoking order shall also be delivered to thecollector.
7. Compensation to trustees as herein designated shall be payablesolely from proceeds derived from the sale of lands purchased by them assuch trustees and shall be fixed by the authorities herein designated, butnot in excess of ten percent of the price for which any such lands and lotsare sold by the trustees; provided further, that if at any such sale anyperson bid a sufficient amount to pay in full all delinquent taxes,penalties, interest and costs, then the trustees herein designated shall bewithout authority to further bid on any such land or lots.
8. If the county commission of any county does not designate andappoint a suitable person or persons as trustee or trustees, so appointed,or the trustee or trustees do not accept property after the third offeringwhere no sale occurred then it shall be at the discretion of the collectorto sell such land subsequent to the third offering of such land and lots atany time and for any amount.
140.260. 1. It shall be lawful for the county commission of anycounty, and the comptroller, mayor and president of the board of assessorsof the city of St. Louis, to designate and appoint a suitable person orpersons with discretionary authority to bid at all sales to which section140.250 is applicable, and to purchase at such sales all lands or lotsnecessary to protect all taxes due and owing and prevent their loss to thetaxing authorities involved from inadequate bids.
2. Such person or persons so designated are hereby declared as tosuch purchases and as titleholders pursuant to collector's deeds issued onsuch purchases, to be trustees for the benefit of all funds entitled toparticipate in the taxes against all such lands or lots so sold.
3. Such person or persons so designated shall not be required to paythe amount bid on any such purchase but the collector's deed issuing onsuch purchase shall recite the delinquent taxes for which said lands orlots were sold, the amount due each respective taxing authority involved,and that the grantee in such deed or deeds holds title as trustee for theuse and benefit of the fund or funds entitled to the payment of the taxesfor which said lands or lots were sold.
4. The costs of all collectors' deeds, the recording of same and theadvertisement of such lands or lots shall be paid out of the countytreasury in the respective counties and such fund as may be designatedtherefor by the authorities of the city of St. Louis.
5. All lands or lots so purchased shall be sold and deeds orderedexecuted and delivered by such trustees upon order of the county commissionof the respective counties and the comptroller, mayor and president of theboard of assessors of the city of St. Louis, and the proceeds of such salesshall be applied, first, to the payment of the costs incurred and advanced,and the balance shall be distributed pro rata to the funds entitled toreceive the taxes on the lands or lots so disposed of.
6. Upon appointment of any such person or persons to act as trusteeas herein designated a certified copy of the order making such appointmentshall be delivered to the collector, and if such authority be revoked acertified copy of the revoking order shall also be delivered to thecollector.
7. Compensation to trustees as herein designated shall be payablesolely from proceeds derived from the sale of lands purchased by them assuch trustees and shall be fixed by the authorities herein designated, butnot in excess of ten percent of the price for which any such lands and lotsare sold by the trustees; provided further, that if at any such sale anyperson bid a sufficient amount to pay in full all delinquent taxes,penalties, interest and costs, then the trustees herein designated shall bewithout authority to further bid on any such land or lots.
8. If the county commission of any county does not designate andappoint a suitable person or persons as trustee or trustees, so appointed,or the trustee or trustees do not accept property after the third offeringwhere no sale occurred then it shall be at the discretion of the collectorto sell such land subsequent to the third offering of such land and lots atany time and for any amount.
