{"data":{"id":"us-ky/krs-80.610","jurisdiction":"us-ky","citation":"KRS 80.610","heading":"Agreement to sell housing as security for federal aid.","body":"In any contract or amendatory or superseding contract for a loan and annual contributions\nheretofore or hereafter entered into between a housing authority (including any housing\nauthority created under KRS 80.010 to 80.250) and the federal government with respect\nto any housing undertaken by said housing authority, any such housing authority is\nauthorized to make such covenants (including covenants with holders of obligations of\nsaid authority issued for purposes of the housing project involved), and to confer upon the\nfederal government such rights and remedies, as said housing authority deems necessary\nto assure the fulfillment of the purposes for which the housing was undertaken. In any\nsuch contract, the housing authority may, notwithstanding any other p rovisions of law,\nagree to sell and convey the housing (including all lands appertaining thereto) to which\nsuch contract relates to the federal government upon the occurrence of such conditions, or\nupon such defaults on obligations for which any of the ann ual contributions provided in\nsaid contract are pledged, as may be prescribed in such contract, and at a price (which\nmay include the assumption by the federal government of the payment, when due, of the\nprincipal of and interest on outstanding obligations  of the housing authority issued for\npurposes of the housing project involved) determined as prescribed therein and upon such\nother terms and conditions as are therein provided. Any such housing authority is hereby\nauthorized to enter into such supplementa ry contracts, and to execute such conveyances,\nas may be necessary to carry out the provisions hereof. Notwithstanding any other\nprovisions of law, any contracts or supplementary contracts or conveyances made or\nexecuted pursuant to the provisions of this section shall not be or constitute a mortgage\nwithin the meaning or for the purpose of any of the laws of this Commonwealth.","path":["KRS Chapter 80"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=24876","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:40Z","sha256":"597a73bec17a49e5c254885c551b8681891ddbd02c3bc126c0602c2744db1222","source_id":"us-ky","stale":false,"prev":"us-ky/krs-80.600","next":"us-ky/krs-80.620"},"notice":"GroundRules: Original legal text. Not legal advice."}