{"data":{"id":"us-ky/krs-96.860","jurisdiction":"us-ky","citation":"KRS 96.860","heading":"Disposal of plant.","body":"The board or the municipality may sell or dispose of all or substantially all of that part of\nan electric plant located within the boundary of the municipality, owned and operated by\nit, only by first complying with the following provisions, to wit:\n(1) The board shall adopt a resolution which shall state in substance (a) that the board\nhas approved the proposed sale or disposition, (b) a full description of the property\nto be sold or disposed of, (c) the transferee or transferees or purchasers thereof, (d )\nthe consideration to be received by the board for such sale or disposition, (e) the\nterms or conditions of such sale or disposition, (f) the date on which an election\nshall be held, which shall be the day of the regular November election.\n(2) The resolu tion of the board shall be submitted to the governing body of the\nmunicipality; and if approved by the governing body of the municipality, the\nquestion shall be submitted to an election of the qualified voters in the manner\nprovided in KRS 96.640, except t hat the question to be presented to the voters in\nthe general election shall be: \"Are you in favor of the sale or disposition of the\nelectric plant, for the consideration of $.... (here state the consideration).\" The voters\nshall indicate a \"Yes\" or a \"No\"  vote. If a majority of all of the qualified voters of\nthe municipality voting in said general election on the question shall vote in favor of\nthe sale or disposition of the electric plant, the sale shall be consummated,\notherwise the sale or disposition shall not be made.\n(3) The board may dispose of all or any part of an electric plant located without the\nboundary of the municipality without an election or any other approval or authority\nthan that in the board.","path":["KRS Chapter 96"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26292","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:58Z","sha256":"f8c4832eee6ebae79a164b0880ea29a57e83269199e440c8948c395a3c2df7c5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-96.850","next":"us-ky/krs-96.870"},"notice":"GroundRules: Original legal text. Not legal advice."}