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(A) The Mayor is hereby authorized to execute and to file with the Kentucky Secretary of State, the articles of incorporation, attached as Exhibit A to Ordinance 2016-06 and incorporated by reference as if fully set forth herein, to establish the City of Walton Economic Development Authority, Inc., as a non-profit corporation to be the agency, and instrumentality, and constituted authority of the City pursuant to the provisions of KRS Chapter 58 and KRS Chapter 273.
(B) The establishment of the City of Walton Economic Development Authority, Inc. is for a public purpose of the City.
(Ord. 2016-06, passed 10-3-16)