{"data":{"id":"us-ky/krs-82.083","jurisdiction":"us-ky","citation":"KRS 82.083","heading":"Definition for section -- Sale or other disposition of city property.","body":"(1) As used in this section, \"independent appraisal\" means an appraisal made by:\n(a) An individual or organization not affiliated with the city or its officers or\nemployees, using a generally accepted national or professional standard; or\n(b) A city's officers or employees using:\n1. A nationally published valuation of property based on the most recent\nedition of the publication; or\n2. For personal property with no applica ble nationally published valuation\nstandard, a generally accepted method to determine a good -faith\nestimate of the value of the personal property.\n(2) A city may sell or otherwise dispose of any of its real or personal property.\n(3) Before selling or other wise disposing of any real or personal property that has any\nvalue, the city shall make a written determination setting forth and fully describing:\n(a) The real or personal property;\n(b) Its intended use at the time of acquisition;\n(c) The reasons why it is in the public interest to dispose of it;\n(d) The method used to estimate value when the property is personal property\nappraised under subsection (1)(b)2. of this section; and\n(e) The method of disposition to be used.\n(4) Real or personal property may be:\n(a) Transferred, with or without compensation, to another governmental agency;\n(b) Transferred, with or without compensation, for economic development\npurposes, which shall include but n ot be limited to real property transfers for\nthe elimination of blight;\n(c) Sold at public auction following publication of the auction in accordance with\nKRS 424.130(1)(b);\n(d) Sold by electronic auction following publication of the auction, including the\nuniform resource link (URL) for the site of the electronic auction, in\naccordance with KRS 424.130(1)(b);\n(e) Sold by sealed bids in accordance with the procedure for sealed bids under\nKRS 45A.365(3) and (4);\n(f) Traded towards the purchase of the same or  similar type of property, if the\ntrade-in value received equals or exceeds the actual fair market value of the\nproperty as determined using an independent appraisal as defined in\nsubsection (1) of this section;\n(g) Sold for its appraised fair market value  or a greater amount if the property is\nvalued at ten thousand dollars ($10,000) or less in an independent appraisal.\nProperty sold under this paragraph may not be sold to a city officer or\nemployee or family member of a city officer or employee as defined  in the\ncity's ethics ordinance adopted under KRS 65.003;\n(h) Notwithstanding subsection (3) of this section, sold for scrap or disposed of as\ngarbage in a manner consistent with the public interest if the property has no\nvalue, or is of negligible value as determined by an independent appraisal;\n(i) Sold by the Finance and Administration Cabinet under an agreement with the\ncity; or\n(j) Notwithstanding subsection (3) of this section, when the property is an animal\nused in service by the city, given to the a nimal's primary handler or trainer,\nwithout the payment of compensation, when the animal is retired or is no\nlonger capable of performing service to the city.\n(5) If a city receives no bids for the real or personal property, either at public or\nelectronic auction or by sealed bid, the property may be disposed of, consistent with\nthe public interest, in any manner deemed appropriate by the city. In those\ninstances, a written description of the property, the method of disposal, and the\namount of compensation, if any, shall be made.\n(6) Any compensation resulting from the disposal of this real or personal property shall\nbe transferred to the general fund of the city.","path":["KRS Chapter 82"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57309","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:42Z","sha256":"10923bf62a5fc63864b2665238c3e9053903ddb5db62c62f3ff79473aace3521","source_id":"us-ky","stale":false,"prev":"us-ky/krs-82.082","next":"us-ky/krs-82.084"},"notice":"GroundRules: Original legal text. Not legal advice."}