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 Jessamine County
 Code of Ordinances
 Title III. ADMINISTRATION
 Chapter 30. GENERAL PROVISIONS
 ECONOMIC DEVELOPMENT

§ 30.15. INDUSTRIAL ECONOMIC DEVELOPMENT AUTHORITY.  

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  • A joint non-profit Industrial Development Authority to be established with the city of Nicholasville as joint creators of the Authority and said Authority shall be a body politic and corporate with the usual corporate attributes, and in its corporate name may sue and be sued, contract and be contracted with and do all things reasonable or necessary to effectively carry out the duties prescribed by KRS 154.50 - 020 to 154.50.346. The Joint Industrial Development Authority (non-profit) is established with the following terms and conditions:
    (A) The City of Nicholasville enact an ordinance agreeing to the establishment of this non-profit Joint Industrial Development Authority.
    (B) The City of Nicholasville execute a written agreement with the Jessamine County Fiscal Court and the created Industrial Development Authority that the Authority may be dissolved and upon such complete termination, all funds, property, and other assets held by the Industrial Development Authority shall be returned to the City of Nicholasville and Jessamine County Fiscal Court in the same proportion as contributions of funds, property and other assets were made by such city and county.
    (C) Six members of the Authority shall serve for a term of 4 years each, and until their successors are appointed or qualified with initial appointments to be made so that: (1) 2 members are appointed for 2 years (2) 2 members are appointed for 3 years and (3) 2 members are appointed for 4 years. No members shall be appointed for 2 successive terms. Jessamine County Judge Executive shall appoint 3 members of the Authority (1 member for a 2-year term; 1 member for a 3-year term and 1 member for a 4-year term). The mayor of Nicholasville shall appoint 3 members of the authority (1 member for a 2-year term; 1 member for a 3-year term and 1 member for a 4-year term). Upon expiration of these staggered terms, Successors shall be appointed by the appointing authorities for terms of 4 years.
    (Ord. passed 6-2-2009)