2013 Kentucky Revised Statutes CHAPTER 107 - MUNICIPAL IMPROVEMENTS -- ALTERNATE METHODS 107.440 Conveyance or lease of land by governmental unit to district.
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107.440 Conveyance or lease of land by governmental unit to district.
Any governmental unit or units desiring to have buildings erected on land owned or
to be acquired by it or them may convey such lands (whether then with or without
improvements) to the district, or may lease such land to the district for a nominal
rental for the same period of years that such governmental unit proposes to lease
the particular building, or portion thereof, to be constructed wholly or in part thereon,
and, in the event the land was leased, may grant an option to the district to purchase
such land within six (6) months after the expiration of the lease on the building in the
event such governmental unit or units shall not have exercised or shall not exercise
an option to purchase such building within the terms of the contract of lease. Any
such conveyance or lease of land by a governmental unit to the district shall be
authorized by the governing body of such governmental unit by resolution or
ordinance which shall be entered in the official records of said governing body. Such
authorization may be given concurrently with the authorization by such governmental
unit of a lease by it of the particular building, or portion thereof, to be constructed
wholly or in part on said land. The deed, in the case of a conveyance of the land, or
the lease, in the case of a lease thereof, shall be executed on behalf of the
governmental unit by the officer or officers authorized by law to execute contracts on
behalf of such unit and said lease shall be executed on behalf of the district by the
chairman and secretary of the board.
History: Created 1970 Ky. Acts ch. 155, sec. 12.
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