(1) Each member of a housing authority, except an ex officio member, may receive compensation either as a salary or as payment for meetings attended. The compensation of members of a housing authority shall be fixed by the legislative body of the city. The housing authority shall fix the compensation of the secretary and treasurer, but the city legislative body may fix or limit the salary.
(2) If a city housing authority has agreed to accept a transfer or full transfer of ownership and operation of another city's public housing program pursuant to the United States Housing Act of 1937, the city may enter into an interlocal agreement pursuant to KRS 65.210 to 65.300 with the city that is divesting itself of the authority, agreeing to pay all or a portion of the compensation of the member representing that divesting city.