96.090 Sale of gas company stock owned by first-class city.
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/ky/chapter-96/96-090A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.