{"data":{"id":"us-ky/krs-154.50-330","jurisdiction":"us-ky","citation":"KRS 154.50-330","heading":"Withdrawal by governmental unit -- Dissolution of authority.","body":"(1) In the event that a joint industrial development authority is created by cities and/or\ncounties, and thereafter a city or cities or county or counties desire to withdraw\nfrom participation, then the remaining participants may jointly choose a successor\nmember or members of the authority. No such withdrawing city or cities or county\nor counties shall be entitled to the return of any money or property advanced such\nauthority.\n(2) Notwithstanding the provisions of subsection (1) of this section, any cities and /or\ncounties which have established a joint industrial development authority as\nprovided for herein, may provide by a mutual written agreement between such cities\nand/or counties, and the joint industrial development authority, that such joint\nindustrial d evelopment authority may be dissolved and may further provide that\nupon such complete termination, all funds, property and other assets held by the\njoint industrial development authority shall be returned to such cities and/or\ncounties in the same proporti on as contributions of funds, property and other assets\nwere made by such cities and/or counties. This section shall not apply and no\ndissolution shall be made until such time as all legal obligations of the joint\nindustrial development authority shall be satisfied and all existing commitments\nfulfilled.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2966","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:57Z","sha256":"5d19eec058311e56c7308ad5944e2158fd0a32f300d435f4eef1e8c5c1631b32","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.50-326","next":"us-ky/krs-154.50-333"},"notice":"GroundRules: Original legal text. Not legal advice."}