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Kentucky Revised Statutes Title IX. Counties, Cities, and Other Local Units § 96.090.Sale of gas company stock owned by first-class city

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Any city of the first class that owns stock in a gas company carrying on business within its boundaries may dispose of the stock upon such terms as may be prescribed by ordinance, but the stock shall not be sold for less than par.

(2) The proceeds of the sale of the stock shall be applied solely to the construction of public sewers, but the purchaser of the stock shall not be required to look to the application of the purchase money.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title IX. Counties, Cities, and Other Local Units § 96.090.Sale of gas company stock owned by first-class city - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-ix-counties-cities-and-other-local-units/ky-rev-st-sect-96-090/

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