(a) If property is held by a bank or trust company under section 25(b)(2) of this chapter, the trust agreement between the municipality and the bank or trust company may provide for the sale or conveyance of the property by the bank or trust company. The sale may not be made for less than the full appraised value of the property.(b) The municipality may, in case of a sale, join in the conveyance of the property.As added by P.L.98-1993, SEC.8.
Indiana Legal Code