[Adopted 3-25-2003 by Ord. No. 03-03]
A.
The County
of Henderson, Kentucky (the "County") desires to recruit and retain
industries and businesses that provide jobs for persons residing in
Henderson County.
B.
Pursuant
to KRS 154.50 et seq. (the Local Industrial Development Authority
Act), a county may create a local industrial development authority
(an "authority") for the purpose of aiding in the acquisition, retention
and development of land for industrial and commercial purposes in
Kentucky; to aid in the development and promotion of industrial sites,
parks and subdivisions for accommodating industrial and commercial
needs; to promote and stimulate the acquisition, retention and development
of land for industrial and commercial purposes in Kentucky by other
local development organizations, both public and private.
C.
The County
has determined that the acquisition of any lands for the purpose of
developing industrial sites, parks and subdivisions is hereby declared
to be a public and governmental function, exercised for a public purpose,
and a matter of public necessity, and such lands and other property,
easements and privileges acquired in the manner and for the purposes
enumerated in KRS 154.50-301 through 154.50-346 shall and are hereby
declared to be acquired and used for public and governmental purposes
and as a matter of public necessity.
D.
KRS 154.50-316
provides that the six members of the Authority will be appointed by
the County Judge/Executive and members of the Authority will serve
without compensation, but will be reimbursed for any actual and necessary
expenses incurred by them in the conduct of the affairs of the Authority.
The Authority will, upon the appointment of its members, organize
and elect its officers.
E.
KRS 154.50-340
provides that the Authority may borrow money and issue notes and other
financial instruments on its own credit, pledge the appropriations
or income anticipated, or the industrial sites, parks and subdivisions,
or both, as security for its debts, issue revenue bonds issued under
the terms, conditions, and procedures set forth in KRS 103.200 through
103.285 to defray the cost of acquiring and developing any industrial
sites, parks, and subdivisions through the issuance of revenue bonds
issued under the terms, conditions, and procedures set forth in KRS
103.200 through 103.285, and/or as an alternative method and in addition
to all other methods provided by law, acquire and develop land for
industrial and commercial use, and issue revenue bonds in connection
therewith under the terms and provisions of KRS Chapter 58.
The County hereby finds, determines and declares that it is
necessary and in the public's interest to establish an Authority for
the purpose of aiding in the acquisition, retention and development
of land for industrial and commercial purposes in Henderson County;
to aid in the development and promotion of industrial sites, parks
and subdivisions for accommodating industrial and commercial needs,
to promote and stimulate the acquisition, retention and development
of land for industrial and commercial purposes in Henderson County
by other local development organizations both public and private.
To that effect, the County hereby establishes an Authority (the "Henderson
County Authority") for the aforesaid purposes, and hereby declares
that the Henderson County Authority be known as the "Henderson Regional
Industrial Authority."
Pursuant to KRS 154.50-326(b), the Henderson County Judge/Executive
will appoint six members for staggered terms to the Authority's Board
of Directors.
Any bonds, notes or other debt instruments of the Henderson
Regional Industrial Authority, will not constitute an indebtedness
of the County within the meaning of the Constitution and it will plainly
be stated on the face of each bond or note to this effect.