{"data":{"id":"us-ky/krs-353.410","jurisdiction":"us-ky","citation":"KRS 353.410","heading":"Gas sale contracts by gas acquisition authority.","body":"(1) Contracts for the sale of gas from projects or undertakings of a gas acquisition\nauthority shall contain such terms and provisions as the authority determines\nnecessary to provide revenues sufficient to enable the authority to pay its operation,\nmaintenance, and debt service costs. Any municipal utility of the Commonwealth\nthat owns or operates a municipal utility system is hereby authorized to contract to\npurchase gas from a gas acquisition authority upon such terms as the parties may\nagree, including full or partial requirements contracts, contracts for the purchase of\nspecified quantities of gas, and contracts requiring minimum payments, regardless\nof whether gas is made available by the authority or taken by the municipal utility.\n(2) Any gas sale contract between a gas acquisition authority and a municipal utility of\nthe Commonwealth shall provide that the municipal utility shall be obligated to\nmake payments solely from the available revenues and income from the operation\nof a designated municipal utility, or other revenues when applicable, as an operation\nand maintenance expense and a cost of purchased natural gas. Neither the full faith\nand credit nor the taxing power of the municipal utility shall be pledged for the\npayment of any obligation under any  such contract. A municipal utility shall\nestablish, charge, and collect rates and charges for the services provided by its\nutility facilities sufficient to provide revenues sufficient to meet its obligations\nunder any gas sale contract with an authority and to pay its obligations payable from\nor constituting a charge against such revenues.\n(3) No municipal utility that purchases gas from a gas acquisition authority shall in any\nevent be liable for the payment of bonds issued by the authority or for the\nperformance by the authority of its contractual obligations in connection with any\nproject.","path":["KRS Chapter 353"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33094","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:39Z","sha256":"97b1b04745b3d35abd9fe60eb34e646f5ee250ba0fc1d54a6260e9274f646c5d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-353.408","next":"us-ky/krs-353.411"},"notice":"GroundRules: Original legal text. Not legal advice."}