KRS 154.50-316: Establishment of local industrial development authority.

(1) Any governmental unit by act of its legislative body may establish a nonprofit

industrial development authority to be composed of not less than six (6) and not

more than eight (8) members.

(2) The authority shall be a body politic and corporate with the us ual 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 to 154.50-346.