KRS 180.276: Acquisition of ferries near interstate bridges -- Valuation.

Prior to the opening for public use of any interstate bridge, the construction of which is

authorized by any law of the Commonwealth of Kentucky, regardless of the state agency,

commission or administrative body so authorized to make such construction, the state

agency, commission or administrative body so authorized to construct, operate and

maintain any such interstate bridge shall purchase the ferry, equipment, franchises, rights

and privileges used in connection with the operation of any ferry which has been in

continuous operation for at least fifteen (15) years prior thereto and which is located

within five (5) miles of the site of said bridge, and pay the owner therefor a fair cash

value; provided, that in the event such agency, commission or administ rative body and

the owner of such ferry shall be unable to agree upon a fair cash value, the valuation of

such property shall be determined by three (3) persons; one (1) to be selected by the

agency authorized to make such construction, one (1) to be selec ted by the owners of the

ferry and the third to be selected by these two (2). The ferry shall be valued as a going

concern, but no allowance shall be made for future growth. In the event the owner of such

ferry shall not agree to the establishment of such valuation according to the foregoing

method, then in such event, the agency, commission or administrative body shall not be

required to purchase such assets from the owner of the ferry.