KRS 80.320: Creation of county and regional housing authorities.

(1) If the governing body of a county by resolution declares (upon findings prescribed

in this section and KRS 80.330 to 80.610) that there is a need for a housing

authority to be created for such county to exercise therein powers and other

functions prescribed for a housing authority of a county, a county housing authority

shall thereupon exist for such county.

(2) If the governing body of each of two (2) or more contiguous counties by resolution

declares (upon findings prescribed in this section and KRS 80.3 30 to 80.610) that

there is a need for one (1) housing authority to be created for all of such counties to

exercise in such counties powers and other functions prescribed for a regional

housing authority, a regional housing authority shall thereupon exist for all of such

counties and exercise its powers and other functions in such counties. If there is a

county housing authority created for a county, the governing body of that county

shall not adopt such resolution unless first, all holders of any outstandi ng bonds,

notes, or other evidences of indebtedness of such county housing authority consent

in writing to such action and the county housing authority adopts a resolution not to

thereafter initiate any project within such county.