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INDUSTRIAL DEVELOPMENT ECONOMIC AUTHORITY BOARD
(A) The Pike County Fiscal Court and the City of Pikeville, pursuant to the terms and provisions of KRS 65.210 to 65.300, hereby renew the inter-local Cooperative Act first entered into on January 25, 1988, for the establishment of a joint Industrial Development and Economic Authority pursuant to KRS 154.50-301 to 154.50-346, to provide a coordinated effort to promote economic development on a sustained basis for Pike County, Kentucky.
(B) The name of the organization shall be Pikeville/Pike County Industrial Development and Economic Authority.
(C) The purpose of the organization shall be to coordinate the activities and to work with the Industrial Foundation, the Pike County Chamber of Commerce and the State of Kentucky to promote the industrial and economic development of Pikeville and Pike County.
(Ord. 07-0-002, passed 2-26-07)
Cross-reference:
Terms; membership; appointments; meetings, see Appendix A
The organization will be governed by a Board composed as follows:
(A) Six (6) members, three (3) of whom shall be appointed by the Mayor of Pikeville and three (3) by the county Judge/Executive.
(B) Members of the Authority shall serve for a term of four (4) years each and until their successors are appointed and qualified, provided, however, that initial appointments shall be made so that two (2) members are appointed for two (2) years, two (2) members for three (3) years, and two (2) members for four (4) years. Upon expiration of these staggered terms, successors shall be appointed for a term of four (4) years.
(C) An Authority member may be replaced by the appointing authority upon a showing to such appointing authority of misconduct of an Authority member or upon conviction of a felony. No Authority member shall hold any official office with the appointing authority.
(D) Members of the Authority shall serve without compensation but may be reimbursed for any actual and necessary expenses incurred by them in the conduct of the affairs of the Authority. The Authority shall, upon the appointment of its members, organize and elect officers. The Authority shall choose a Chairman and Vice Chairman who shall serve for a term of one (1) year.
(E) The Authority shall appoint a Secretary-Treasurer who may be either a member of the Authority or an employee of the Authority. The Authority may fix a salary for the Secretary-Treasurer and he or she shall execute an official bond to be set and approved by the Authority. The Secretary-Treasurer shall keep minutes of all meetings of the Authority and shall also keep a set of books showing the receipts and expenditures for the Authority. He or she shall preserve on file duplicate vouchers of all expenditures and shall present to the Authority, upon request, complete reports of all financial transactions and the financial condition of the Authority. Such books and vouchers shall at all times be subject to examination by the appointing authorities or by the legislative body by whom the Authority is created. The Secretary-Treasurer shall transmit at least yearly a detailed report of all acts and doings of the Authority to the bodies by whom the Authority was created.
(F) The representative of the Pike County Chamber of Commerce and the incumbent Chairman of the Industrial Development Committee of the Pike County Chamber of Commerce shall be considered non-voting members of the Authority. One (1) non-voting liaison shall be appointed from the Pike County Fiscal Court and one (1) non-voting liaison shall be appointed from the Pikeville City Council. One non-voting liaison shall be named by the Big Sandy Area Development District.
(Ord. 07-0-002, passed 2-26-07)
(A) The Authority may employ necessary counsel, agents and employees to carry out its work and functions and prescribe such rules and regulations as it deems necessary.
(B) A quorum for the transaction of business of this organization shall consist of four (4) voting members of the Board. Meetings of this organization may be called by the Chairman of the Board or by four (4) members. In the event of tie voting by the Authority, the issue shall be deemed to have failed passage.
(C) This Authority shall be a body politic and corporate with the usual corporate attributes, and in its corporate name may sue and be sued, contract and be contracted with and do all things reasonable or necessary to effectively carry out the duties prescribed by KRS 154.50-301 through 154.346.
(D) The purpose, duties and powers of the Authority shall be as outlined in KRS 154.50-301 through 153.50-346.
(1) Acquire, retain and develop land for industrial and commercial purposes in Kentucky; aid in the development of industrial sites, parks, and subdivisions to meet industrial and commercial needs in Kentucky.
(2) Encourage the acquisition, retention and development of land for industrial and commercial needs in Kentucky by other local development organizations, both public and private.
(3) Cooperate with the U.S. Army Corps of Engineers, Big Sandy Development District in acquiring and developing land for industrial and commercial purposes in accordance with these plans.
(4) Acquire by contract, lease, purchase, gift, condemnation or otherwise any real or personal property or rights therein, necessary or suitable for establishing industrial sites, parks and subdivisions. The Authority may dispose of any real or personal property or rights therein, which in the opinion of the Authority are no longer needed to carry out the purposes of KRS 154.50-301 through 154.50-346. The Authority may sell or convey any or all land owned or optioned by it to any public or private organization, governmental unit, or industry for the purpose of constructing and/or operating any industrial or commercial facility. Provided, however, that no sale or conveyance of any land shall be made to a private organization or industry without such organization or industry first having executed a written contract with the Authority provided that if no actual construction of an industrial facility is commenced within two (2) years, the organization or industry shall re-convey the land, free and clear of liens and encumbrances, to the Authority, and the Authority shall return to the organization or industry nine-five percent (95%) of the purchase price paid therefor.
(E) Condemnation procedures. Upon the adopting by the Authority of a resolution reciting that property is needed for industrial sites, parks and subdivisions and cannot be acquired by negotiation and purchase at its fair market value, the governmental units in which such land is located may direct and institute condemnation proceedings in the name of such governmental units, for the use and benefit of the Authority. The procedure for condemnation shall conform to the procedure set out in the Eminent Domain Act of Kentucky. Upon acquisition of the property, the governmental unit shall convey the property to the Authority upon payment by the Authority to the governmental unit of an amount of money equal to the judgment and costs paid by the governmental unit.
(F) Limitations on condemnation powers. Notwithstanding any other provision or section of KRS 154.50-301 through 154.50-346, no governmental unit shall have the power to condemn property under KRS 154.50-301 through 154.50-346 unless the governmental unit has first given proper public notice as required by law stating the specific purpose for which the property to be condemned shall be used and the purposes shall be pleaded and proved in the condemnation action. The property shall be developed within a period of five (5) years pursuant to the purpose and the failure of the Authority to so develop shall entitle the person or person whose property was condemned to repurchase the property at the price the Authority paid to the governmental unit for the same. The person from whom the land is taken by condemnation shall have the right to reacquire the land as aforementioned by application to the court of competent jurisdiction, if such procedure be necessary, and shall be entitled to recovery of his or her costs and reasonable attorney’s fees necessary to reacquire the land.
(G) The Authority will be the organization responsible for industrial recruitment for local government. All other agencies involved in industrial recruitment should coordinate their activities through the Authority.
(H) In the event that the City of Pikeville or the County of Pike desires to withdraw from participation, then the remaining participant may choose a successor member or members of the Authority. No such withdrawing partner shall be entitled to the return of any money or property advanced such Authority.
(I) Notwithstanding the provisions of division (H) above, the city and the county having established the joint Industrial Development Authority as provided for herein, may provide by a mutual written agreement between the city and county and the joint Industrial Development Authority, that the joint Industrial Development Authority may be dissolved and may further provide that upon such complete termination, all funds, property and other assets held by the joint Industrial Development and Economic Authority shall be returned to the city and county in the same proportion as contributions of funds, property and other assets were made by the city and county. This division (I) shall not apply and no dissolution shall be made until such time as all legal obligations of the joint Authority shall be satisfied and all existing commitments fulfilled.
(J) Authority’s power to receive appropriations, finance by borrowing or issuance of revenue bonds.
(1) In order to provide money for the purchase of property necessary to develop industrial sites, parks and subdivisions and the promotions thereof, the legislative body of the city and county may make an annual appropriation from its General Fund by the legislative body in such amounts, in such proportion and upon such terms and the legislative body may determine. All funds derived from such appropriation shall be turned over to the Authority for the purpose of carrying out the duties and powers of the Authority.
(2) The Authority may borrow money on its own credit in anticipation of revenue to be derived from appropriations or other income. For such purposes the Authority may pledge the appropriations or income anticipated. The Authority may pledge the industrial sites, parks, and subdivisions as security for monies borrowed.
(3) The Authority is authorized to defray the cost of acquiring, developing any industrial sites, parks, and subdivisions through the issuance of revenue bonds issued under the terms, conditions, and procedures set forth in KRS 103.200 to 103.285.
(4) The Authority may, as an alternative method and in addition to all other methods provided by law, acquire and develop land for industrial and commercial use, and issue revenue bonds in connection therewith under the terms and provisions of KRS Chapter 58 and under those provisions,
GOVERNMENTAL AGENCY means the Authority, and PUBLIC PROJECT means industrial sites, parks and subdivisions.
(K) The title of all property acquired by the Authority shall vest in the Authority. All property acquired for the development of industrial sites, parks and subdivisions shall be exempt from taxation to the same extent as other property used for public purposes. All revenues collected by the Authority shall also be exempt from taxation.
(L) The acquisition of any lands for the purpose of developing industrial sites, parks and subdivisions is hereby declared to be a public and governmental function, exercised for a public purpose, and a matter of public necessity, and such land and other property, easements and privileges acquired in the manner and for the purpose enumerated in KRS 154.50-301 through 154.50.346 shall and are hereby declared to the be acquired and used for public and governmental purposes and as a matter of public necessity.
(M) This agreement shall be effective as of the date of its approval in accordance with KRS 65.260 and remain in effect for a period of four (4) years, at which time the agreement may be terminated or renewed.
(Ord. 07-0-002, passed 2-26-07)
HOUSING AUTHORITY BOARD
(A) (1) Cities of all classes may acquire, establish, and operate, within their limits, housing, under the provisions of this KRS Chapter 80, for the purpose of providing adequate and sanitary living quarters for individuals or families, such housing to be for individuals or families with low or moderate income or for individuals or families having income in excess of low or moderate if such housing is acquired, established and operated in conjunction with, and located within one (1) mile of housing for individuals or families with low or moderate income. They may create city housing authorities, and they and the authorities created by them shall have all powers necessary and appropriate to engage in such housing and slum clearance projects, including, without limitation, all power specified in KRS 80.500 and the power in connection with the use of federal funds, with the approval of the federal funding agency, if applicable, to mortgage, encumber, pledge, assign, or otherwise grant or convey or consent to a lien or security interest in, any real or personal property, or any interest therein, owned or held by the Authority, to provide security for:
(a) The repayment of borrowed funds;
(b) Any guarantee of this repayment or any other performance of the Authority; or
(c) Any payment or guarantee of performance of any subsidiary or affiliate of the Authority, or of any business arrangement into which the Authority shall have entered in furtherance of the purposes of KRS Chapter 80.
(2) The conditions of any mortgage or other instrument granting or consenting to a security interest in property of a local housing authority may include any provisions that are customary in mortgages and other security interests used in commercial transactions.
(B) Housing authorities may engage in the maintenance and enhancement of adequate housing stock for low income and moderate income persons as set forth in KRS Chapter 80.
(C) Housing authorities may loan monies on the terms they deem advisable, subject to the approval of the United States Department of Housing and Urban Development, if that agency’s funds are used, to other governments or their agencies or to other owners of housing or of housing to be constructed or reconstructed, if the Authority determines that the loans will result in the creation of housing.
(D) Housing authorities may lease or convey real property to other governments or agencies thereof or to nongovernmental owners or developers of housing for a consideration less than fair market value, if the Housing Authority determines that the action facilitates housing.
(KRS 80.020) (Ord. 07-0-002, passed 2-26-07)
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