KRS 96.230: City of the first class or consolidated local government to control

waterworks.

Whenever any city of the first class or consolidated local government owns, through its

commissioners of the sinking fund or revenue commission, respectively, all the share s of

capital stock in any corporation engaged in supplying water to its inhabitants, the city or

consolidated local government shall control, manage, and operate the plant of the

corporation, its franchise, and all its other property, in the manner provide d in KRS

96.240 to 96.310. The provisions of KRS 96.230 to 96.310 shall not affect the status of

the stock as part of the assets of the sinking fund or revenue commission, respectively.