When used in the chapter, the following words shall have the following meanings:
(1) AGREEMENT. The intergovernmental cooperation agreement entered into between an authority and a local authority by the parties pursuant to this chapter.
(2) AUTHORITY. The Alabama Land Bank Authority.
(3) BOARD. The Alabama Land Bank Authority Board.
(4) LOCAL AUTHORITY. A local land bank authority created by a county or municipality as provided in Section 24-9-10.
(5) PROPERTY. Real property, including any improvements thereon.
(6) TAX-DELINQUENT PROPERTY. Any property on which the taxes levied and assessed by any party remain in whole or in part unpaid on the date due and payable.
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