212.580 Title to property -- Tax exemption -- Power to sell, mortgage or exchange.
159 words·~1 min read·
/ky/chapter-212/212-580A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The title to all property acquired for purposes of KRS 212.350 to 212.620, real,
personal and mixed, whether acquired by deed, gift, purchase, devise,
condemnation, or otherwise, shall vest in the board and shall be exempt from
taxation. The board shall have the power, in its discretion, to sell or exchange any
property, except real estate, which it owns, and it shall not be the duty of any person
dealing with the board to look to the application of the proceeds of such sale or
exchange.
(2)The board shall not have the power to sell, mortgage, transfer, or exchange any real
estate which it may at any time own, except real estate which it receives as provided
in KRS 212.490 to 212.510, without the approval of the city by resolution of its
legislative body duly approved by the mayor, and the approval of the fiscal court of
the county by resolution duly adopted by said fiscal court.