Establishment of local industrial development authority
Known as the Local Industrial Development Authority Act
The act spans §§ 154–154 (16 sections).
Applied in 1 court decision — leading case Dannheiser v. City of Henderson (1999)
Most recently applied in Dannheiser v. City of Henderson (September 1999)
Effective: July 15, 2002 History: Amended 2002 Ky
(1) Any governmental unit by act of its legislative body may establish a nonprofit industrial development authority to be composed of not less than six (6) and not more than eight (8) members.
(2) The authority shall be a body politic and corporate with the usual corporate attributes and in its corporate name may sue and be sued, contract and be contracted with, and do all things reasonable or necessary to effectively carry out the duties prescribed by KRS 154.50-301 to 154.50-346.
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.