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(A) The Governing Body of the City hereby establishes the City of Olathe Land Bank.

(B) The Bank shall be governed by a Board of Trustees. The Governing Body shall serve as the Board of Trustees.

(C) The Governing Body shall advance operating funds to the Bank to pay expenses of the Board and the Bank.

(D) The Bank may be dissolved by ordinance of the Governing Body. In such case, all property of the Bank shall be transferred to and held by the City and may be disposed of as otherwise provided by law. (Ord. 21-24 § 1, 2021; Ord. 10-19 § 1, 2010.)