Kentucky Revised Statutes Title IX. Counties, Cities, and Other Local Units § 96.230.City of the first class or consolidated local government to control waterworks

Whenever any city of the first class or consolidated local government owns, through its commissioners of the sinking fund or revenue commission, respectively, all the shares of capital stock in any corporation engaged in supplying water to its inhabitants, the city or consolidated local government shall control, manage, and operate the plant of the corporation, its franchise, and all its other property, in the manner provided in KRS 96.240 to 96.310. The provisions of KRS 96.230 to 96.310 shall not affect the status of the stock as part of the assets of the sinking fund or revenue commission, respectively.