KRS 91.754: Petition proceedings to request establishment of district.

(1) A city, consolidated local government, or urban -county government may initiate

proceedings to establish a management district upon receipt by the executive

authority of a written petition requesting the formation of a management district. A

petition requesting the formation of a management district shall contain:

(a) The signatures and addresses of at least thirty -three percent (33%) of the

owners of real property within the proposed management district and a

number of real property owners, who together are the owners of real property

equal to at least fifty -one percent (51%) of the assessed value of property

within the proposed management district;

(b) An accurate description of the boundaries of the proposed management

district;

(c) An economic improvement plan that shall provide:

1. A description of the economic improvements to be provided within the

district;

2. A preliminary estimate of the annual costs of the proposed economic

improvements;

3. The proposed method of assessing the costs of the economic

improvements against the properties; and

(d) The proposed makeup of the board of directors of the management district, its

powers and duties.

(2) When a petition satisfying the requirements of subsection (1) of this section is

received by the executive authority, he or she shall forward it to the legislative body

which may proceed to enact an ordinance establishing a management district as

provided in KRS 91.756.