KRS 353.400: Legislative declarations concerning availability and reliability of natural

gas supplies -- Construction of KRS 353.400 to 353.410.

(1) KRS 353.400 to 353.410 may be cited as the "Natural Gas Acquisition Authority

Act."

(2) The Kentucky General Assemb ly hereby recognizes that the availability of reliable

and economical supplies of natural gas is vital to the health, welfare, and economic

well-being of the citizens and residents of the Commonwealth. In order to promote

the ability of municipal utilities to obtain natural gas on terms that will promote the

availability of reliable and economic supplies of energy to consumers, it is the intent

of the General Assembly to authorize the creation of natural gas acquisition

authorities to:

(a) Acquire supplies of natural gas for the purpose of providing the supply

requirements of municipal utilities;

(b) Contract for the sale of natural gas to municipal utilities; and

(c) Exercise all powers necessary to enable them to accomplish such purposes.

(3) KRS 353.400 to 353.410 shall be liberally construed in conformity with such intent,

it being hereby determined and declared that the means provided by this chapter are

necessary to provide for the continued availability to industrial, commercial, and

residential customers served by municipal utilities in the Commonwealth of reliable

supplies of natural gas at economic rates. But, KRS 353.400 to 353.410 shall not be

construed or applied to increase the power of eminent domain of public agencies.