KRS 96.543: Ordinance for acquisition of system and issuance of bonds -- Election --

Plans and specifications -- Acquisition of lands and easements.

(1) Before any city may acquire, maintain, or operate any such artificial gas system, the

legislative body of the city shall pass an ordinance declaring it desirable that this be

done, and shall prepare an estimate of the probable cost of the system. If revenue

bonds are to be issued to pay the cost the ordinance shall so provide. An election

shall be had on the adopti on of the ordinance if a number of legal voters of the city

equal to twenty-five percent (25%) of the total number of votes cast in the city at the

last regular election file a petition within ten (10) days after the ordinance is passed

asking that the que stion of approval of the ordinance be submitted to a vote of the

people. If the petition is filed with the county clerk and certified by the county clerk

as sufficient not later than the second Tuesday in August preceding the next regular

election, the election shall be held at the next regular election held in the city. If no

petition is filed, the city may proceed immediately with the acquisition of an

artificial gas system.

(2) If an election is petitioned for, the presiding officer of the city shall cer tify the

ordinance to the county clerk, who shall cause to be prepared for presentation to the

voters the question: "Are you in favor of acquiring, maintaining and operating an

artificial gas system in accordance with the estimate of cost adopted by the .. .. (here

insert name of city) and the issuance of revenue bonds in the amount of $.... (here

insert total face amount of bonds estimated by the legislative body of the city to be

necessary to pay the cost of the system, based upon the estimate of cost)." T he

voters shall indicate a "Yes" or a "No" vote. The presiding officer of the city shall

advertise the election and its object by publication pursuant to KRS Chapter 424.

All legal voters of the city may vote at the election.

(3) If an election is held, th e city shall not acquire, maintain or operate the system or

issue revenue bonds unless a majority of all the qualified voters voting on the

question vote in favor thereof.

(4) Before revenue bonds are issued the legislative body of the city shall select th e

location of the system, prepare the necessary plans and specifications, and take all

steps necessary in its judgment for the acquisition of the land, right of ways,

constructions, franchises and easements necessary for the construction of the

system.