{"data":{"id":"us-ky/krs-80.500","jurisdiction":"us-ky","citation":"KRS 80.500","heading":"General powers of housing authority.","body":"An authority shall constitute a public body corporate and politic, exercising public and\nessential governmental functions, and having all the powers necessary or convenient to\ncarry out and effectuate the purposes and provisions of KRS 80.320 to 80.610, in cluding\nthe following powers in addition to others herein granted:\n(1) To sue and be sued; to have a seal and to alter the same at pleasure; to have\nperpetual succession; to make and execute contracts and other instruments\nnecessary or convenient to the e xercise of the powers of the authority; and to make\nand from time to time amend and repeal bylaws, rules and regulations, not\ninconsistent with KRS 80.320 to 80.610, to carry into effect the powers and\npurposes of the authority.\n(2) Within its area of ope ration, to prepare, carry out, acquire, lease and operate\nhousing; to provide for the construction, reconstruction, improvement, alteration or\nrepair of any housing project or any part thereof.\n(3) To arrange or contract for the furnishing by any person o r agency, public or private,\nof services, privileges, works, or facilities for, or in connection with, a housing\ndevelopment or the occupants thereof; and (notwithstanding anything to the\ncontrary contained in KRS 80.320 to 80.610 or in any other provision  of law) to\ninclude in any contract let in connection with a development, stipulations requiring\nthat the contractor and any subcontractors comply with requirements as to minimum\nwages and maximum hours of labor, and comply with any conditions which the\nfederal government may have attached to its financial aid of the project.\n(4) To lease or rent any dwellings, houses, accommodations, lands, buildings, structures\nor facilities embraced in any housing project and (subject to the limitations\ncontained in KRS  80.320 to 80.610) to establish and revise the rents or charges\ntherefor; to own, hold, and improve real or personal property; to purchase, lease,\nobtain options upon, acquire by gift, grant, bequest, devise, or otherwise any real or\npersonal property or any interest therein; to acquire by the exercise of the power of\neminent domain or condemnation any real property; to sell, lease, exchange,\ntransfer, assign, pledge or dispose of any real or personal property or any interest\ntherein; to insure or provide f or the insurance of any real or personal property or\noperations of the authority against any risks or hazards.\n(5) To invest any funds held in reserves or sinking funds, or any funds not required for\nimmediate disbursement, in property or securities in wh ich savings banks may\nlegally invest funds subject to their control; to purchase its bonds at a price not\nmore than the principal amount thereof and accrued interest, all bonds so purchased\nto be canceled.\n(6) To exercise all or any part or combination of powers herein granted.","path":["KRS Chapter 80"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=24865","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:40Z","sha256":"7c58e013e0a861f5e0f90494f255345da5b090e350bfff86b2fdb1cd36ca8562","source_id":"us-ky","stale":false,"prev":"us-ky/krs-80.490","next":"us-ky/krs-80.510"},"notice":"GroundRules: Original legal text. Not legal advice."}