Kentucky Statutes 184.360 – Acquisition of property — Conditions – Exceptions
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(1) (a) A transportation improvement district may acquire by purchase, lease, lease- purchase, lease with option to purchase, appropriation, or otherwise in the manner and for the consideration it considers proper, any public or private property necessary, convenient, or proper for the construction, maintenance, repair, or operation of a project. The district may pledge net revenues, to the extent permitted by KRS § 184.350 to KRS § 184.395 with respect to bonds, to secure payments to be paid by the district under such a lease, lease-purchase agreement, or lease with option to purchase. Title to real and personal property shall be held in the name of the district.
(b) If a district cannot come to terms on any property purchase, the district may request the city or county that established the district to acquire the property in accordance with KRS § 416.540 to KRS § 416.670. Except as otherwise agreed to by the owner, full compensation shall be paid for public property so taken.
(2) This section does not authorize a district to take or disturb property or facilities belonging to any public utility or to a common carrier engaged in interstate commerce when the property or facilities are required for the proper and convenient operation of the public utility or common carrier, unless provision is made for the restoration, relocation, replication, or duplication of the property or facilities elsewhere at the sole cost of the district.
(3) Except as otherwise provided in KRS § 184.350 to KRS § 184.395, disposition of real property shall be by sale, lease-purchase agreement, lease with option to purchase, or otherwise in the manner and for the consideration as the district determines if to a governmental agency, and otherwise in the manner provided in this section. Disposition of personal property shall be in the manner and for the consideration as the district determines.
Effective: July 14, 2022
History: Created 2022 Ky. Acts ch. 180, sec. 5, effective July 14, 2022.
(b) If a district cannot come to terms on any property purchase, the district may request the city or county that established the district to acquire the property in accordance with KRS § 416.540 to KRS § 416.670. Except as otherwise agreed to by the owner, full compensation shall be paid for public property so taken.
Terms Used In Kentucky Statutes 184.360
- City: includes town. See Kentucky Statutes 446.010
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) This section does not authorize a district to take or disturb property or facilities belonging to any public utility or to a common carrier engaged in interstate commerce when the property or facilities are required for the proper and convenient operation of the public utility or common carrier, unless provision is made for the restoration, relocation, replication, or duplication of the property or facilities elsewhere at the sole cost of the district.
(3) Except as otherwise provided in KRS § 184.350 to KRS § 184.395, disposition of real property shall be by sale, lease-purchase agreement, lease with option to purchase, or otherwise in the manner and for the consideration as the district determines if to a governmental agency, and otherwise in the manner provided in this section. Disposition of personal property shall be in the manner and for the consideration as the district determines.
Effective: July 14, 2022
History: Created 2022 Ky. Acts ch. 180, sec. 5, effective July 14, 2022.