Kentucky Statutes 184.363 – Board of trustees may acquire, hold, and sell property — Conditions
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The board of trustees of a district may:
(1) Acquire, by any method other than condemnation, real property in fee simple in the name of the district in connection with, but in excess of that needed for, a project;
(2) Hold the property for a period of time as the board determines; and
(3) Sell at public auction or otherwise, all right, title, and interest of the district in the property, as the board considers in the best interests of the district; but in no event shall the property be sold for less than two-thirds (2/3) of its appraised value. Sale at public auction shall be undertaken only after the board advertises the sale in a newspaper of general circulation in the district for two (2) weeks prior to the date set for the sale or as provided in KRS § 424.130.
Effective: July 14, 2022
History: Created 2022 Ky. Acts ch. 180, sec. 6, effective July 14, 2022.
(1) Acquire, by any method other than condemnation, real property in fee simple in the name of the district in connection with, but in excess of that needed for, a project;
Terms Used In Kentucky Statutes 184.363
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) Hold the property for a period of time as the board determines; and
(3) Sell at public auction or otherwise, all right, title, and interest of the district in the property, as the board considers in the best interests of the district; but in no event shall the property be sold for less than two-thirds (2/3) of its appraised value. Sale at public auction shall be undertaken only after the board advertises the sale in a newspaper of general circulation in the district for two (2) weeks prior to the date set for the sale or as provided in KRS § 424.130.
Effective: July 14, 2022
History: Created 2022 Ky. Acts ch. 180, sec. 6, effective July 14, 2022.