The purposes for which this Authority is formed are to:
(A) Act as a governmental agency, instrumentality and constituted authority of the city and the county in the acquisition, improvement, construction, erection, equipping, furnishing and financing of public projects pursuant to state law and, in particular, KRS 154.50-130, to accomplish a public purpose;
(B) Acquire, retain, develop and promote land for industrial purposes in the county;
(C) Aid in the development and promotion of industrial sites, parks and subdivisions to meet industrial and commercial needs in the county;
(D) Encourage the acquisition, retention and development of land for industrial and commercial needs in the county by other local development organizations, both public and private;
(E) Cooperate with other federal, state and local agencies in formulating development plans and in acquiring and developing land for industrial and commercial purposes in accordance with the plan;
(F) Acquire, by contract, lease, purchase, gift, condemnation or otherwise any real or personal property, or right therein, necessary or suitable for establishing industrial sites, parks or subdivisions; and
(G) Review and make recommendations to the City Council and the fiscal court of the county regarding requests for the issuance of industrial revenue bonds.
(1989 Code, § 36.21) (Ord. 1623, passed - -1984)