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74.460 Organization of commission -- Powers and duties -- Authority to acquire water supply -- Obligations.

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74.460 Organization of commission -- Powers and duties -- Authority to acquire water supply -- Obligations. The commission shall organize by appointing a chairman from its own members and a <br>secretary and a treasurer, who need not be commissioners. The secretary shall keep a <br>record of all proceedings of the commission which shall be available for inspection as <br>other public records. The treasurer shall be the lawful custodian of all funds of the <br>commission and shall pay same out on orders authorized or approved by the commission. <br>The secretary and treasurer shall perform other duties appertaining to the affairs of the <br>commission and shall receive the salaries prescribed by the commission, and either or <br>both may be required to furnish bonds in sums to be fixed by the commission for the use <br>and benefit of the commission. The commission shall adopt its own rules of procedure <br>and provide for its meetings. The commission shall have full and complete supervision, <br>management, and control of the sources of supply of water as provided in the ordinances <br>or resolutions for acquiring and operating them, and in their maintenance, operation, and <br>extension. The commission may contract with cities, water associations, water districts, <br>or federal agencies which are represented by the commission for furnishing a supply of <br>water to the parties for a period not exceeding fifty (50) years and the governing bodies of <br>the cities, water associations, water districts, or federal agencies may enter into the <br>contracts with the commission. For the purpose of acquiring all or any part of its sources <br>of supply of water, the commission may purchase from cities, water associations, water <br>districts, or federal agencies which are represented by the commission for mutually <br>agreed terms without regard to actual value any sources of supply of water separate and <br>apart from the water distribution systems of the parties; and the cities, water associations, <br>water districts, or federal agencies may convey the sources of supply of water to the <br>commission without any election or voter approval notwithstanding any provision of any <br>other law to the contrary. If any city, water association, or water district has outstanding <br>any obligations which by their terms are in any manner payable from the revenues of their <br>waterworks distribution system, the proceeds received from any conveyance shall be <br>sufficient to retire all of the outstanding obligations, including all interest accrued and to <br>accrue thereon to the date of retirement thereof; and the proceeds when received shall be <br>set aside in a special fund and used for that purpose. The commission may appoint or <br>contract for the services of officers, agents, and employees, including engineers, <br>attorneys, accountants, fiscal agents, and other professional persons, prescribe their <br>duties, and fix their compensation. Effective: June 24, 2003 <br>History: Amended 2003 Ky. Acts ch. 167, sec. 5, effective June 24, 2003. -- Amended 1996 Ky. Acts ch. 122, sec. 5, effective July 15, 1996. -- Created 1960 Ky. Acts <br>ch. 207, sec. 5, effective June 16, 1960.