{"data":{"id":"us-ky/krs-96.537","jurisdiction":"us-ky","citation":"KRS 96.537","heading":"City operated natural gas distribution system -- Bonds -- Negotiated sale.","body":"The legislative body of any city operating a municipal system for the acquisition and\ndistribution of natural gas may, by ordinance, authorize the issuance of revenue bonds to\npay all or any part of the costs of any project for the improvement or extension  of the\nsystem, or for obtaining new sources of supply. The revenue bonds may be sold and\nissued in the manner provided for the sale and issuance of revenue bonds under the\nprovisions of KRS 58.010 to 58.140, 58.150, 58.155, and 58.180, including by negoti ated\nsale, or, upon a determination of a legislative body, acting upon the advice of the city\nattorney or city solicitor, that the proposed bonds will be industrial development bonds\nwithin the meaning of federal statutes, the revenue bonds, whether or not  exempt from\nfederal income taxation, may be sold in any manner provided for the sale of industrial\nbuilding revenue bonds under the terms of KRS 103.200 to 103.285, inclusive; provided,\nhowever, that the contract with the private corporation which is deemed to give rise to the\nfederal classification of industrial development bonds need not take the form of a lease\nagreement, and no request in writing from any contracting private corporation shall be\nrequired for any negotiated sale, and provided, further, that in the event of a negotiated\nsale, a report of negotiations shall be made to a consultant who shall be employed by the\ncity to make a recommendation to the legislative body on the adequacy of such\nnegotiations and of the terms of sale in the light of market conditions. The provisions of\nKRS 424.360 shall not apply to any negotiated sale under this section.","path":["KRS Chapter 96"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26248","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:58Z","sha256":"91078703f51120a04426b860c124c34a0656070189be0499af0b8d566d605f71","source_id":"us-ky","stale":false,"prev":"us-ky/krs-96.536","next":"us-ky/krs-96.5375"},"notice":"GroundRules: Original legal text. Not legal advice."}