The Beloit Land Bank is hereby established pursuant to K.S.A. 12-5901 et seq. The Land Bank is an independent agency and instrumentality of the City with the primary responsibility and authority to acquire, hold, manage and convey surplus City property and other abandoned, tax-foreclosed, or otherwise underutilized or distressed property in order to convert such properties to productive use.

(Ord. 2295)

For the purpose of this Chapter the words set out in this section shall have the following meanings:

(a)   City means the City of Beloit, Kansas;

(b)   Board means the Board of Trustees of the Beloit Land Bank;

(c)   Bank and Land Bank mean the Beloit Land Bank established pursuant to this Article.

(d)   Governing Body means the Governing Body of the City of Beloit.

(Ord. 2295)