(A) The Mayor is hereby authorized to execute and to file same with the Kentucky Secretary of State, the articles of incorporation, attached to Ordinance 18-13 as Exhibit “A,” to establish the City of Fort Wright Economic Development Authority, Inc., as a non-profit corporation to be the agency, instrumentality and constituted authority of the city pursuant to the provisions of KRS Chapters 58 and 273.
(B) The establishment of the Economic Development Authority is for a public purpose of the city.
(Ord. 18-13, passed 12-18-13)