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153.420 Powers and duties of corporation.

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153.420 Powers and duties of corporation. The Kentucky Center for the Arts Corporation: <br>(1) Shall supervise construction of the Kentucky Center for the Arts in conjunction with the Finance and Administration Cabinet, and shall provide all management <br>functions for the facility and for any other property acquired or leased pursuant to <br>its powers under this section; (2) May take, acquire and hold property, and all interests therein, by deed, purchase, gift, devise, bequest, lease or eminent domain, or by transfer from the State Property <br>and Buildings Commission, and may dispose of any property so acquired in any <br>manner provided by law. In the exercise of its power of eminent domain, it shall <br>proceed in the manner provided in the Eminent Domain Act of Kentucky, KRS <br>416.540 to 416.680; (3) May consult or enter into agreements with other segments of the arts and entertainment industry to provide technical, professional, or management support or <br>assistance, consistent with its purpose and mission; (4) May issue revenue bonds, subject to procedures which shall be established by the Finance and Administration Cabinet, solely payable from the charges, revenues, <br>rentals, and other funds pledged for their payment for the purpose of paying all or <br>any part of the cost of any project or for the acquisition of property; (5) Shall promote the growth and development of the arts, convention trade, tourism and the hotel industry within Jefferson County and the Commonwealth, through <br>utilization of the Kentucky center and activities authorized in this section to <br>enhance these and the public interest; (6) May adopt administrative regulations, as provided in KRS Chapter 13A, governing the operation, maintenance or use of property under its custody and control; (7) May levy a surcharge on tickets for all functions held within the center to contribute to operating revenue; (8) May receive tax revenues from any governmental unit, and financial contributions of local governments, private persons and foundations; (9) Shall have exclusive control of all exhibitions, performances and concessions in the Center for the Arts. The corporation shall have a prior lien upon the property of any <br>private exhibitor, concessionaire, or other person holding an exhibition or <br>performance or operating a concession in the center, and may sell such property <br>upon ten (10) days' notice to satisfy any indebtedness; (10) Shall develop in conjunction with local hotels, and the arts and entertainment industry, tourist packages including performance and group plans, and shall <br>participate with local hotels and convention bureaus in attracting non-arts related <br>conferences and conventions; (11) May establish an executive committee from among its membership with full authority to act between its meetings to the extent delegated by the corporation; (12) May sue and be sued and maintain and defend legal actions in its corporate name; (13) May, if the corporation elects, be exempt from the provisions of KRS 56.065 to 56.180, and, with the approval of the secretary of the Finance and Administration <br>Cabinet and the Department of Insurance, purchase from the funds allotted to the <br>corporation property insurance for buildings and contents from responsible <br>insurance companies doing business in this state; and (14) May purchase liability insurance for the protection of the corporation and its employees from liability arising in the operation of the center. Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 190, effective July 15, 2010. -- Amended 1992 Ky. Acts ch. 66, sec. 1, effective July 14, 1992. -- Amended 1990 Ky. Acts <br>ch. 1, sec. 2, effective July 13, 1990. -- Amended 1988 Ky. Acts ch. 189, sec. 1, <br>effective July 15, 1988. -- Created 1980 Ky. Acts ch. 295, sec. 38, effective July 15, <br>1980; and ch. 382, sec. 3, effective April 9, 1980.