181.820 Acquisition of ferries.
190 words·~1 min read·
/ky/chapter-181/181-820A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The commission of any city authorizing bridge revenue bonds under KRS 181.660 or 181.720, may purchase all ferries, together with necessary lands and appurtenances thereto, which are operating across the stream to be spanned by the bridge to be acquired or constructed and which are within five
(5)miles of the location of such bridge. The purchase price of such ferries shall be deemed a part of the cost of the bridge and shall be paid solely from funds received under the provisions of KRS 181.560 to 181.840. The commission may maintain and operate any ferry so purchased and fix such rates of toll for the use thereof as it deems proper, or it may in its discretion sell or otherwise dispose of any ferry so purchased, or it may abandon or dismantle the ferries when it seems expedient to do so. All tolls collected for the use of the ferries and the proceeds of any sale or disposition of any ferries shall be used to pay the cost of maintaining, repairing and operating the ferries, and any residue shall be paid into the sinking fund provided for the bonds.