Kentucky Statutes 65.355 – Creation of authority
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(1) Any local government, the county or independent school district within the county, and the Commonwealth of Kentucky may enter into an interlocal cooperation agreement pursuant to KRS § 65.210 to KRS § 65.300 for the purpose of establishing a land bank authority pursuant to KRS § 65.350 to KRS § 65.375.
(2) The authority shall be a public body corporate and politic with the power to sue and be sued, issue deeds in its name, and any other powers necessary and convenient to carry out these powers or that may be granted to the authority by the parties.
(3) The authority shall be established to acquire the tax delinquent properties of the parties, properties that have become blighted or deteriorated as defined by KRS § 99.705 and properties that have local government liens filed against them, to facilitate the public purpose of returning property that is in a non-revenue generating, non-tax producing status to effective utilization, including but not limited to providing housing, new industry, and jobs for the citizens of the county. The authority shall have the powers provided in KRS § 65.370 and
65.375 and in the interlocal cooperation agreement.
Effective:June 29, 2017
History: Amended 2017 Ky. Acts ch. 86, sec. 5, effective June 29, 2017. — Amended 2003 Ky. Acts ch. 171, sec. 2, effective June 24, 2003. — Repealed, reenacted, and amended 1990 Ky. Acts ch. 341, sec. 2, effective July 13, 1990.
— Created 1988 Ky. Acts ch. 92, sec. 2, effective July 15, 1988.
Formerly codified as KRS § 91.805.
(2) The authority shall be a public body corporate and politic with the power to sue and be sued, issue deeds in its name, and any other powers necessary and convenient to carry out these powers or that may be granted to the authority by the parties.
(3) The authority shall be established to acquire the tax delinquent properties of the parties, properties that have become blighted or deteriorated as defined by KRS § 99.705 and properties that have local government liens filed against them, to facilitate the public purpose of returning property that is in a non-revenue generating, non-tax producing status to effective utilization, including but not limited to providing housing, new industry, and jobs for the citizens of the county. The authority shall have the powers provided in KRS § 65.370 and
65.375 and in the interlocal cooperation agreement.
Effective:June 29, 2017
History: Amended 2017 Ky. Acts ch. 86, sec. 5, effective June 29, 2017. — Amended 2003 Ky. Acts ch. 171, sec. 2, effective June 24, 2003. — Repealed, reenacted, and amended 1990 Ky. Acts ch. 341, sec. 2, effective July 13, 1990.
— Created 1988 Ky. Acts ch. 92, sec. 2, effective July 15, 1988.
Formerly codified as KRS § 91.805.