Missouri Revised Statutes













Chapter 141

Delinquent Taxes--First Class Counties and St. Louis City

←141.982

Section 141.983.1

141.984→

August 28, 2015

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141.983. Subject to the other provisions of this chapter and all

other applicable laws, a land bank agency established under this chapter

shall have all powers necessary or appropriate to carry out and effectuate

the purposes and provisions of this chapter as they relate to a land bank

agency, including the following powers in addition to those herein

otherwise granted:



(1) To adopt, amend, and repeal bylaws for the regulation of its

affairs and the conduct of its business;



(2) To sue and be sued, in its own name, and plead and be impleaded

in all civil actions, including, but not limited to, actions to clear title

to property of the land bank agency;



(3) To adopt a seal and to alter the same at pleasure;



(4) To receive funds as grants from or to borrow from political

subdivisions, the state, the federal government, or any other public or

private sources;



(5) To issue notes and other obligations according to the provisions

of this chapter;



(6) To procure insurance or guarantees from political subdivisions,

the state, the federal government, or any other public or private sources,

of the payment of any bond, note, loan, or other obligation, or portion

thereof, incurred by the land bank agency, and to pay any fees or premiums

in connection therewith;



(7) To enter into contracts and other instruments necessary,

incidental, or convenient to the performance of its duties and the exercise

of its powers, including, but not limited to, agreements with other land

bank agencies and with political subdivisions for the joint exercise of

powers under this chapter;



(8) To enter into contracts and other instruments necessary,

incidental, or convenient to the performance of functions by the land bank

agency on behalf of political subdivisions, or agencies or departments of

political subdivisions, or the performance by political subdivisions, or

agencies or departments of political subdivisions, of functions on behalf

of the land bank agency;



(9) To make and execute contracts and other instruments necessary or

convenient to the exercise of the powers of the land bank agency; and any

contract or instrument when signed by the chair or vice chair of the land

bank agency, or by an authorized use of their facsimile signatures, and by

the secretary or assistant secretary, or treasurer or assistant treasurer

of the land bank agency, or by an authorized use of their facsimile

signatures, shall be held to have been properly executed for and on its

behalf;



(10) To procure insurance against losses in connection with the

property, assets, or activities of the land bank agency;



(11) To invest the money of the land bank agency, including amounts

deposited in reserve or sinking funds, at the discretion of the board, in

instruments, obligations, securities, or property determined proper by the

board, and name and use depositories for its money;



(12) To enter into contracts for the management of, the collection of

rent from, or the sale of the property of the land bank agency;



(13) To design, develop, construct, demolish, reconstruct,

rehabilitate, renovate, relocate, equip, furnish, and otherwise improve

real property or rights or interests in real property held by the land bank

agency;



(14) To fix, charge, and collect rents, fees, and charges for the use

of the property of the land bank agency and for services provided by the

land bank agency;



(15) Subject to the limitation set forth in subsection 1 of section

141.980, to acquire property, whether by purchase, exchange, gift, lease,

or otherwise, to grant or acquire licenses and easements, and to sell,

lease, grant an option with respect to, or otherwise dispose of, any

property of the land bank agency;



(16) Subject to the limitation set forth in subsection 1 of section

141.980, to enter into partnership, joint ventures, and other collaborative

relationships with political subdivisions and other public and private

entities for the ownership, management, development, and disposition of

real property; and



(17) Subject to the other provisions of this chapter and all other

applicable laws, to do all other things necessary or convenient to achieve

the objectives and purposes of the land bank agency or other laws that

relate to the purposes and responsibility of the land bank agency.



(L. 2012 H.B. 1659 & 1116)







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