{"data":{"id":"us-ky/krs-96.040","jurisdiction":"us-ky","citation":"KRS 96.040","heading":"City of the first class or consolidated local government may purchase public","body":"utility plant.\n(1) If a city of the first class or a consolidated local government desires to own or\noperate a utility being operated under a franchise, and the city or consol idated local\ngovernment takes the necessary steps within two (2) years before the expiration of\nthe franchise, and offers to purchase, at a fair valuation, the plant of the company\nwhich is then rendering the service, the city or consolidated local governm ent shall\nbe under no obligation to sell, renew, or continue the franchise.\n(2) The fair valuation of the plant shall be determined by three (3) persons; one (1) to\nbe selected by the city or consolidated local government, one (1) to be selected by\nthe owners of the plant, and the third to be selected by these two (2). The plant shall\nbe valued as a going concern, but no allowance shall be made for future growth.","path":["KRS Chapter 96"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26168","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:57Z","sha256":"c11502a29beea118070e9d22b4e2df520d139daec6650414fa0929738d6cf650","source_id":"us-ky","stale":false,"prev":"us-ky/krs-96.030","next":"us-ky/krs-96.045"},"notice":"GroundRules: Original legal text. Not legal advice."}