KRS 96.183: Termination of operation under KRS 96.171 to 96.188.

The governing body of the municipality may terminate the operation and management of

the electric and water plant by the board under the provisions of KRS 96.171 to 96.188

only by first complying with the following provisions, to wit:

(1) The governing bod y of the municipality, upon the adoption of an ordinance

declaring the desire of the municipality to terminate the operation of the electric and

water plant by the board under the provisions of KRS 96.171 to 96.188, may direct

that such question be submitt ed to an election of the qualified voters of the

municipality. The mayor shall certify such ordinance to the county clerk not later

than the second Tuesday in August preceding the next general election, who shall

have prepared to be placed before the voter s in the general November election, the

question: "Are you in favor of the termination of the operation and management of

the electric and water system of the city by the Electric and Water Plant Board?"

The voters shall be instructed to indicate a "Yes" or a "No" vote.

(2) The mayor of such municipality shall advertise such election and the object thereof

by publication pursuant to KRS Chapter 424, and also by printed handbills posted in

not less than four (4) conspicuous places in each voting precinct in the city and at

the courthouse door. All legal voters of such city shall be privileged to vote at such

election.

(3) If two thirds (2/3) of all the qualified voters of the municipality voting in said

general election on the question shall vote in the affir mative, the governing body of

the municipality may adopt an ordinance rescinding its election to operate under the

provisions of KRS 96.171 to 96.188, and the board, on the first day of the month

following the passage and approval of such ordinance, shall by resolution transfer

the operation of the electric and water plant to the governing body of the

municipality.