{"data":{"id":"us-ky/krs-96.560","jurisdiction":"us-ky","citation":"KRS 96.560","heading":"Scope of KRS 96.550 to 96.900 -- Legislative purpose and intent.","body":"(1) The provisions of KRS 96.550 to 96.900 shall not apply in the case of a\nmunicipality now operating an electric plant under any existing law, but the\ngoverning body of any such municipality may elect to operate under the provisions\nof KRS 96.550 to 96.900, in which case, from the time of the exercise of such\nelection and the appointment of a board hereunder, the electric plant of such\nmunicipality shall be operated under the provisions of KRS 96.550 to 96.900.\n(2) KRS 96.550 to 96.900 are intended to be the complete law of this state with respect\nto municipalities acquiring electric plants after June 1, 1942, and the complete law\nof this state with respect to the operation of electric plants acquired by any\nmunicipality after June 1, 1942. Any proceedings her etofore taken by any\nmunicipality relating to the subject matter of KRS 96.550 to 96.900, whether or not\ncommenced under any other law, may be discontinued by the municipality and new\nproceedings instituted under KRS 96.550 to 96.900.\n(3) It hereby is decl ared to be the legislative purpose and intent to vest in the\nmunicipalities of all the classes in this Commonwealth full power and authority to\nestablish, acquire, own and operate electric plants; to empower and authorize said\nmunicipalities to contract wi th and acquire from the Tennessee Valley Authority or\nany governmental agency electric power or current for resale and to authorize and\nrequire the payment, out of earnings from the sale of electric power or current, of\ncertain amounts to the state, counti es, municipalities, school districts and other\ntaxing districts in order that they may not suffer from loss of revenue resulting from\nthe tax exemption created by the transfer of property from private to public\nownership, and in the interest of the general welfare.\n(4) It hereby is declared to be the further legislative intent that KRS 96.550 to 96.900\nshall be the complete law of this state with respect to municipalities acquiring\nelectric plants, after June 1, 1942, and the complete law of this state with  respect to\nthe operation of electric plants acquired by any municipality after June 1, 1942; and\nthat all laws and parts of laws in conflict herewith, to the extent of such conflict,\nhereby are repealed.","path":["KRS Chapter 96"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26262","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:58Z","sha256":"bc64e0cffe02356102a3ad9ef755cb00662f22b51a55813866c07527e1171fe6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-96.550","next":"us-ky/krs-96.570"},"notice":"GroundRules: Original legal text. Not legal advice."}