Find Legal Information

82.115 Contract of inducement.

Download pdf

82.115 Contract of inducement. A city may in the discretion of its governing body enter into contracts of inducement with <br>governmental agencies, and pursuant thereto may make a conveyance or lease of, or grant <br>an option to acquire or lease, such lands, with or without site improvements, utility <br>services, buildings, structures or other improvements, upon such terms and conditions as <br>in the discretion of the governing body of the city may appear to be in the best interests of <br>the public health, safety or general welfare of the citizens and inhabitants of the city. In its <br>exercise of such discretion the governing body of the city may ascertain and declare as a <br>legislative determination of fact, by ordinance duly adopted and made effective according <br>to law, that by reason of immediate benefits to the city or to its citizens and inhabitants, or <br>by reason of ultimate benefits reasonably to be anticipated in the way of relieving the city <br>of public welfare obligations, facilitating proper municipal planning, increasing <br>opportunities for gainful employment, increasing sources of tax or other revenues, or <br>otherwise, a contract of inducement shall be made with a governmental agency in the <br>public interests without concurrent tangible consideration in terms of cash or property, <br>and solely or partly in anticipation of such prospective public benefits. History: Created 1962 Ky. Acts ch. 178, sec. 2(3).