KRS 65.250: Contents of agreements.

(1) Any agreement entered into under KRS 65.210 to 65.300 shall specify the

following:

(a) The purpose and duration of the agreement;

(b) If the agreement creates an interlocal agency:

1. The organization, composition, authority, and nature of the interlocal

agency, including the terms and qualifications of the members of the

governing authority and their manner of appointment or selection;

2. A statement of the powers delegated to the interlocal agency or any

restrictions, limitations, or conditions the contra cting parties wish to

place on those powers; and

3. A general statement of any responsibilities of the interlocal agency to

the parties that established it;

(c) The manner of financing the joint or cooperative undertaking and of

establishing and maintainin g a budget therefor; said agreement for financing

the joint or cooperative undertaking shall include agreements relative to the

respective responsibilities of the public agencies involved for the payment of

the employer's share involved in any pertinent pe nsion plan or plans, if any,

provided for by KRS 65.280;

(d) The permissible method or methods to be employed in accomplishing the

partial or complete termination of the agreement, including the method for

disposing of property upon such partial or complete termination;

(e) If the interlocal agreement concerns the sharing of occupational or insurance

premium tax revenue between a city and county, and the county that is a party

to the contract is subject to the crediting provisions set forth in KRS 68.197 or

91A.080, the contr act shall not be terminable without the consent of each

party to the contract; and

(f) Any other necessary and proper matters.

(2) In the event that the agreement does not establish an interlocal agency to conduct

the joint or cooperative undertaking, the agreement shall, in addition to paragraphs

(a), (c), (d), (e), and (f) enumerated in subsection (1) of this section, contain the

following:

(a) Provision for an administrator responsible for the joint or cooperative

undertaking; and

(b) The manner of acquiring, holding, and disposing of real and personal property

used in the joint or cooperative undertaking.