(A) All applications to the city for industrial revenue bond financing for projects for which such financing is authorized by KRS 103.200 shall be submitted to the city and review by the city acting through its City Commission, and if approval by the Oversight Committee is required by KRS Chapter 103, recommended to the Oversight Committee according to the procedure hereinafter set out.
(B) Applications to the city shall be made in writing on the same application forms prescribed and adopted by the Oversight Committee for application to said Committee for review. Such application forms shall be filed with the Mayor of the city not less than three business days prior to the meeting of the City Commission, at which the inducement resolution will be presented for first reading (provided, however, that any applications in process, or which may be submitted on the same day as the initial or any subsequent reading of his or her, shall be permitted to proceed simultaneously herewith).
(C) The applicant shall notify the local Chamber of Commerce and any other group which has filed a written request with the Mayor of the city for notification of the filing of such application, in writing, on the same day the application is filed with the Mayor of the city. The notice shall briefly describe the project; give the location of the project, state the amount of the proposed bond issue; give the date of the City Commission meeting at which the inducement resolution will be presented; and inform the Chamber of Commerce or such other group of its opportunity to comment on the project. A copy of the notice or notices shall be filed with the Mayor of the city prior to first reading of the inducement resolution. The City Commission shall consider any comments received as a result of such notice or notices prior to second reading of the inducement resolution.
(D) Inducement resolutions shall receive two readings by the City Commission. Not less than seven days prior to the second reading of an inducement resolution, the applicant shall advertise, in a newspaper which qualifies under KRS Chapter 424 for legal publication by the city, notice of the City Commission meeting at which the inducement resolution will be considered for second reading. The notice shall include: a statement that the City Commission will consider at the meeting authorization for industrial revenue bonds to finance the project; the date, time and place of the meeting; the name of the applicant; the type and location of the project; and a statement that members of the public will have an opportunity to comment on the project and the bond issue at the meeting.
(E) The City Commission will also review applications made by cities in the county to the extent required by the regulations of the Oversight Committee.
(F) During any City Commission meeting at which an inducement resolution for a project covered by the resolution is considered, a reasonable opportunity shall be given for the public to provide comments concerning the bond issue.
(G) (1) For any project for which an inducement resolution receives passage on second reading in accordance with the procedure set out in this section, the city will notify the Industrial Revenue Bond Oversight Committee in writing of such passage, and include in the notification a statement outlining the benefits that the project will provide for the city and surrounding area, and indicating why the project should be approved by the Industrial Revenue Bond Oversight Committee.
(2) The meeting of the Industrial Revenue Bond Oversight Committee at which a project, so recommended by the city for approval, will be considered by the Industrial Revenue Bond Oversight Committee shall be attended by a designated representative of the city. In the absence of any specific designation of such representative by the city, the Mayor of the city shall designate the representative of the city to attend meetings on behalf of the city when necessary. Such representative shall be prepared to explain the position of the city relative to the project and the bond issue.
(H) The procedures herein set out shall apply only to those projects which require the approval of the Industrial Revenue Bond Oversight Committee.
(Ord. AG-86, passed 9-22-1986)