KRS 80.500: General powers of housing authority.

An authority shall constitute a public body corporate and politic, exercising public and

essential governmental functions, and having all the powers necessary or convenient to

carry out and effectuate the purposes and provisions of KRS 80.320 to 80.610, in cluding

the following powers in addition to others herein granted:

(1) To sue and be sued; to have a seal and to alter the same at pleasure; to have

perpetual succession; to make and execute contracts and other instruments

necessary or convenient to the e xercise of the powers of the authority; and to make

and from time to time amend and repeal bylaws, rules and regulations, not

inconsistent with KRS 80.320 to 80.610, to carry into effect the powers and

purposes of the authority.

(2) Within its area of ope ration, to prepare, carry out, acquire, lease and operate

housing; to provide for the construction, reconstruction, improvement, alteration or

repair of any housing project or any part thereof.

(3) To arrange or contract for the furnishing by any person o r agency, public or private,

of services, privileges, works, or facilities for, or in connection with, a housing

development or the occupants thereof; and (notwithstanding anything to the

contrary contained in KRS 80.320 to 80.610 or in any other provision of law) to

include in any contract let in connection with a development, stipulations requiring

that the contractor and any subcontractors comply with requirements as to minimum

wages and maximum hours of labor, and comply with any conditions which the

federal government may have attached to its financial aid of the project.

(4) To lease or rent any dwellings, houses, accommodations, lands, buildings, structures

or facilities embraced in any housing project and (subject to the limitations

contained in KRS 80.320 to 80.610) to establish and revise the rents or charges

therefor; to own, hold, and improve real or personal property; to purchase, lease,

obtain options upon, acquire by gift, grant, bequest, devise, or otherwise any real or

personal property or any interest therein; to acquire by the exercise of the power of

eminent domain or condemnation any real property; to sell, lease, exchange,

transfer, assign, pledge or dispose of any real or personal property or any interest

therein; to insure or provide f or the insurance of any real or personal property or

operations of the authority against any risks or hazards.

(5) To invest any funds held in reserves or sinking funds, or any funds not required for

immediate disbursement, in property or securities in wh ich savings banks may

legally invest funds subject to their control; to purchase its bonds at a price not

more than the principal amount thereof and accrued interest, all bonds so purchased

to be canceled.

(6) To exercise all or any part or combination of powers herein granted.