Kentucky Statutes 154.90-015 – Powers and duties of corporation
Current as of: 2024 | Check for updates
|
Other versions
The Northern Kentucky Convention Center Corporation:
(1) Shall supervise the design and construction of the Northern Kentucky Convention Center, and shall provide all management functions for the facility and for any other property acquired or leased pursuant to its powers under this section;
(2) May take, acquire, and hold property, and all interests therein, by deed, purchase, gift, devise, bequest, or lease, or by transfer from the State Property and Buildings Commission, and may dispose of any property so acquired in any manner provided by law.
(3) May issue revenue bonds, subject to procedures which shall be established by the Finance and Administration Cabinet, solely payable from the revenues and other funds pledged for their payment for the purpose of paying all or any part of the cost of any project or for the acquisition of property;
(4) Shall promote the growth and development of the convention trade, tourism, and the hotel, restaurant, and entertainment industry in Northern Kentucky and the Commonwealth, through utilization of the Northern Kentucky Convention Center to enhance these and the public interest;
(5) May adopt administrative regulations, as provided in KRS Chapter 13A, governing the operation, maintenance, or use of property under its custody and control;
(6) May levy a surcharge on tickets for functions held within the center to contribute to operating revenue;
(7) Shall have the exclusive control of all exhibitions, performances, and concessions in the Northern Kentucky Convention Center. The corporation shall have a prior lien upon the property of any private exhibitor, concessionaire, or other person holding an exhibition or performance or operating a concession in the center, and may sell the property upon ten (10) days notice to satisfy any indebtedness:
(8) Shall participate with local hotels and the travel industry to develop tourist packages and additional services to attract conferences and conventions to the region;
(9) May establish an executive committee from among its membership with full authority to act between its meetings to the extent delegated by the corporation; and
(10) May sue and be sued and maintain and defend legal actions in its corporate name.
Effective: July 14, 1992
History: Created 1992 Ky. Acts ch. 99, sec. 3, effective July 14, 1992.
(1) Shall supervise the design and construction of the Northern Kentucky Convention Center, and shall provide all management functions for the facility and for any other property acquired or leased pursuant to its powers under this section;
Terms Used In Kentucky Statutes 154.90-015
- Authority: means the Kentucky Economic Development Finance Authority, consisting of a committee as set forth in KRS §. See Kentucky Statutes 154.1-010
- Bequest: Property gifted by will.
- Cabinet: means the Cabinet for Economic Development as established under KRS
12. See Kentucky Statutes 154.1-010 - Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: means an individual, partnership, joint venture, military facility operated by a department or agency of the United States, profit or nonprofit corporation including a public or private college or university, limited liability company, or other entity or association of persons organized for agricultural, commercial, health care, or industrial purposes. See Kentucky Statutes 154.1-010
- Project: includes but is not limited to agribusiness, agricultural or forestry production, harvesting, storage, or processing facilities or equipment. See Kentucky Statutes 154.1-010
- State: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
(2) May take, acquire, and hold property, and all interests therein, by deed, purchase, gift, devise, bequest, or lease, or by transfer from the State Property and Buildings Commission, and may dispose of any property so acquired in any manner provided by law.
(3) May issue revenue bonds, subject to procedures which shall be established by the Finance and Administration Cabinet, solely payable from the revenues and other funds pledged for their payment for the purpose of paying all or any part of the cost of any project or for the acquisition of property;
(4) Shall promote the growth and development of the convention trade, tourism, and the hotel, restaurant, and entertainment industry in Northern Kentucky and the Commonwealth, through utilization of the Northern Kentucky Convention Center to enhance these and the public interest;
(5) May adopt administrative regulations, as provided in KRS Chapter 13A, governing the operation, maintenance, or use of property under its custody and control;
(6) May levy a surcharge on tickets for functions held within the center to contribute to operating revenue;
(7) Shall have the exclusive control of all exhibitions, performances, and concessions in the Northern Kentucky Convention Center. The corporation shall have a prior lien upon the property of any private exhibitor, concessionaire, or other person holding an exhibition or performance or operating a concession in the center, and may sell the property upon ten (10) days notice to satisfy any indebtedness:
(8) Shall participate with local hotels and the travel industry to develop tourist packages and additional services to attract conferences and conventions to the region;
(9) May establish an executive committee from among its membership with full authority to act between its meetings to the extent delegated by the corporation; and
(10) May sue and be sued and maintain and defend legal actions in its corporate name.
Effective: July 14, 1992
History: Created 1992 Ky. Acts ch. 99, sec. 3, effective July 14, 1992.