KRS 96.540: Restrictions on conveyance or encumbrance of waterworks or lighting

system by a city of the home rule class.

(1) Except as provided in KRS 96.171 to 96.188, inclusive, and in KRS 96.5405, no

city of the home rule class that owns a lighting system by gas or electricity, shall

sell, convey, lease, or encumber the system or the income therefrom without the

assent of a majority of the total number of legal voters of the city voting at an

election held for that purpose, after notice of the election has bee n published

pursuant to KRS Chapter 424.

(2) In the case of a city with a population of less than eight thousand (8,000) based

upon the most recent federal decennial census, the election shall be ordered and the

election officers shall be selected by the c ity legislative body, the city clerk shall

prepare the question for presentation to the voters, and a tabulation of the vote shall

be done by the city legislative body in the presence of the mayor; in all other

respects the election shall be conducted under the regular election laws.

(3) Except as provided in KRS 96.171 to 96.188, inclusive, and in KRS 96.5405, no

city of the home rule class that owns a waterworks system, shall sell, convey, lease,

or encumber the system or the income therefrom without the assent of a majority of

the legislative body for the city or of a majority of the total number of legal voters

of the city voting at an election held for that purpose, after notice of the election has

been published pursuant to KRS Chapter 424.

(4) This section shall not apply to the issuance of revenue bonds under the provisions of

KRS 96.350 to 96.520.