KRS 80.350: Decreasing area of operation of regional authority.

The area of operation of a regional housing authority shall be decreased from time to time

to exclude one or more counties from such area if the governing body of each of the

counties in such area and the members of the regional housing authority each adop t a

resolution declaring that there is a need for excluding such county or counties from such

area. No action shall be taken pursuant to this section if the regional housing authority has

outstanding any bonds, notes or other evidences of indebtedness, unl ess first, all holders

of such evidences of indebtedness consent in writing to such action. If such action

decreases the area of operation of the regional housing authority to only one (1) county,

the authority shall thereupon constitute and become a housing authority for that county, in

the same manner as though the authority were created pursuant to KRS 80.320, and the

members of such county housing authority shall be thereupon appointed as provided for

the appointment of members of a housing authority created for a county.