{"data":{"id":"us-ky/krs-151.654","jurisdiction":"us-ky","citation":"KRS 151.654","heading":"Powers, functions, and duties.","body":"The authority shall have the following general powers, functions, and duties:\n(1) Perpetual succession in the corporate name;\n(2) To sue and be sued in the corporate name and to sue and be sued in either\nTennessee or Kentucky with the jurisdiction of either state's courts to be determined\nby where the cause of action arose;\n(3) To adopt, use, and alter a corporate seal, which shall be judicially noticed;\n(4) To enter into contracts and cooperative agreements with federal, state, and local\ngovernments and ag encies thereof, with private individuals, corporations,\nassociations, and with other organizations that the board may deem necessary or\nconvenient in carrying out the purposes of KRS 151.650 to 151.664;\n(5) To adopt, amend, and repeal bylaws;\n(6) To employ  an executive director and to appoint managers, officers, employees,\nattorneys, and agents as the board deems necessary for the transaction of its\nbusiness, fix their compensation, define their duties, and require bonds of such of\nthem as the board may determine;\n(7) To receive and expend funds from any source for staffing and other administrative\nexpenses, research, planning, coordination, and activities deemed necessary to\npromote and carry out the purposes of the authority;\n(8) To cooperate and coordinat e its activities with local, regional, and state planning\nagencies in developing and implementing plans for the development of the projects\nof the authority;\n(9) To cooperate and coordinate its activities with the federal agencies having\nresponsibility for developing natural, human, and physical resources of the region;\n(10) To cooperate with local and regional financial institutions in assembling financial\nresources for commercial, industrial, and other development;\n(11) To enter into compacts or contractu al arrangements with planning agencies of both\nstates, for the purpose of preparing joint -comprehensive plans for the development\nand maintenance of the projects of the authority;\n(12) To acquire and hold real and personal property or interests therein as necessary to\ncarry out the purposes of KRS 151.650 to 151.664; and\n(13) To have and exercise other authority deemed necessary by the board to further and\npromote the purpose of KRS 151.650 to 151.664.","path":["KRS Chapter 151"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2153","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:46Z","sha256":"185815132cdb27e25d128a0af06b08b30859407cb1cf0a3d0b762c0fe72acef4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-151.652","next":"us-ky/krs-151.656"},"notice":"GroundRules: Original legal text. Not legal advice."}