92.830. Sale, insufficient bid, effect.
Sale, insufficient bid, effect.
92.830. 1. In the event no bid equal to the full amount ofall tax bills included in the judgment, interest, penalties,attorney's fees and costs then due thereon shall be received atthe sale, the land reutilization authority shall be deemed tohave bid the full amount of all tax bills included in thejudgment, interest, penalties, attorney's fees and costs thendue, and if no other bid be then received by the sheriff inexcess of the bid of the land reutilization authority and thesheriff shall so announce at the sale, then the bid of the landreutilization authority shall be announced as accepted. Thesheriff shall report any such bid or bids so made by the landreutilization authority in the same way as his report of otherbids is made.
2. Upon confirmation by the court of such bid at such saleby such land reutilization authority, and upon notification bythe sheriff, the collector shall mark the tax bills so bid by theland reutilization authority as "canceled by sale to the landreutilization authority" and shall take credit for the fullamount of such tax bills, including principal amount, interest,penalties, attorney's fees, and costs, on his books and hisstatements with any other taxing authorities.
(L. 1971 H.B. 472 § 24, A.L. 1984 H.B. 1500)