80.500 General powers of housing authority. - Kentucky Statutes

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80.500 General powers of housing authority. An authority shall constitute a public body corporate and politic, exercising public and
essential governmental functions, and having all the powers necessary or convenient to
carry out and effectuate the purposes and provisions of KRS 80.320 to 80.610, including
the following powers in addition to others herein granted:
(1) To sue and be sued; to have a seal and to alter the same at pleasure; to have perpetual succession; to make and execute contracts and other instruments
necessary or convenient to the exercise of the powers of the authority; and to make
and from time to time amend and repeal bylaws, rules and regulations, not
inconsistent with KRS 80.320 to 80.610, to carry into effect the powers and
purposes of the authority. (2) Within its area of operation, to prepare, carry out, acquire, lease and operate housing; to provide for the construction, reconstruction, improvement, alteration or
repair of any housing project or any part thereof. (3) To arrange or contract for the furnishing by any person or agency, public or private, of services, privileges, works, or facilities for, or in connection with, a housing
development or the occupants thereof; and (notwithstanding anything to the
contrary contained in KRS 80.320 to 80.610 or in any other provision of law) to
include in any contract let in connection with a development, stipulations requiring
that the contractor and any subcontractors comply with requirements as to minimum
wages and maximum hours of labor, and comply with any conditions which the
federal government may have attached to its financial aid of the project. (4) To lease or rent any dwellings, houses, accommodations, lands, buildings, structures or facilities embraced in any housing project and (subject to the limitations
contained in KRS 80.320 to 80.610) to establish and revise the rents or charges
therefor; to own, hold, and improve real or personal property; to purchase, lease,
obtain options upon, acquire by gift, grant, bequest, devise, or otherwise any real or
personal property or any interest therein; to acquire by the exercise of the power of
eminent domain or condemnation any real property; to sell, lease, exchange,
transfer, assign, pledge or dispose of any real or personal property or any interest
therein; to insure or provide for the insurance of any real or personal property or
operations of the authority against any risks or hazards. (5) To invest any funds held in reserves or sinking funds, or any funds not required for immediate disbursement, in property or securities in which savings banks may
legally invest funds subject to their control; to purchase its bonds at a price not
more than the principal amount thereof and accrued interest, all bonds so purchased
to be canceled. (6) To exercise all or any part or combination of powers herein granted. Effective: July 13, 1984
History: Amended 1984 Ky. Acts ch. 361, sec. 32, effective July 13, 1984. -- Created 1942 Ky. Acts ch. 70, sec. 20.