Find Legal Information

99.300 Certificates of completion -- Sale or mortgage of completed development.

Download pdf

99.300 Certificates of completion -- Sale or mortgage of completed development. (1) It shall be the duty of the supervising agency, upon any request from a redevelopment corporation, to determine whether the redevelopment of any unit or <br>units in the development area has been achieved, and if the supervising agency finds <br>that such redevelopment has been finished and achieved it shall issue to the <br>redevelopment corporation a certificate of completion showing that the <br>redevelopment of such parcel or parcels has or have been completed, describing <br>such unit or units. (2) It shall be the duty of the supervising agency, upon request from a redevelopment corporation, to determine whether the redevelopment of the development area has <br>been achieved, and if the supervising agency finds that such redevelopment has <br>been finished and achieved it shall issue to the redevelopment corporation a <br>certificate of completion showing that the redevelopment of such area has been <br>completed. No such determination or finding shall affect any unit or units for which <br>certificates of completion have been issued under subsection (1) of this section. (3) Such redevelopment property or unit thereof, may be sold or mortgaged, provided, however, that such sale or mortgage shall be authorized as herein provided and such <br>property shall, after such sale or mortgage, be used for the general purposes of KRS <br>99.010 to 99.310 and maintained in accordance with the standards provided therefor <br>by the planning commission of such city in the original certificate of approval <br>issued for such redevelopment under and pursuant to the provisions of KRS 99.040 <br>to 99.060. (4) Such certificate or certificates of completion shall be conclusive evidence, upon which any one (1) dealing with such property may rely, that the redevelopment of <br>the property therein described has been fully completed in conformity with KRS <br>99.010 to 99.310 and the development plan. Effective: June 2, 1942 <br>History: Created 1942 Ky. Acts ch. 36, sec. 18.