The city hereby creates and establishes a Joint Industrial Development Authority with the city to be known as the Prestonburg-Paintsville Joint Industrial Development Authority, to:
(A) Aid in the acquisition, retention and development of land located between the two cities for industrial and commercial purposes;
(B) Aid in the development and promotion of industrial sites, parks and subdivisions for accommodating industrial and commercial needs; and
(C) Promote and stimulate the acquisition, retention and development of land for industrial and commercial purposes located between the cities of Paintsville and Prestonsburg, Kentucky.
(Ord. 87-04, passed 4-2-87)