When a school board, park board, municipality or the county has gone on record as desiring to purchase a parcel in a proposed subdivision for a school, park or other public purpose, the owner or subdivider shall reserve the parcel for acquisition by the public entity for a period of 12 months beginning on the date the final plat is recorded. If, within this 12-month period, an acquisition price cannot be agreed upon or condemnation proceedings have not been instituted, the owner or subdivider may sell, subdivide or otherwise dispose of the parcel.
(1993 Code, § 92.34) (Ord. passed 10-17-1956; Ord. passed 10-18-1978) Penalty, see § 92.99