Kentucky Statutes 99.300 – Certificates of completion — Sale or mortgage of completed development
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(1) It shall be the duty of the supervising agency, upon any request from a redevelopment corporation, to determine whether the redevelopment of any unit or units in the development area has been achieved, and if the supervising agency finds that such redevelopment has been finished and achieved it shall issue to the redevelopment corporation a certificate of completion showing that the redevelopment of such parcel or parcels has or have been completed, describing such unit or units.
(2) It shall be the duty of the supervising agency, upon request from a redevelopment corporation, to determine whether the redevelopment of the development area has been achieved, and if the supervising agency finds that such redevelopment has been finished and achieved it shall issue to the redevelopment corporation a certificate of completion showing that the redevelopment of such area has been completed. No such determination or finding shall affect any unit or units for which certificates of completion have been issued under subsection (1) of this section.
(3) Such redevelopment property or unit thereof, may be sold or mortgaged, provided, however, that such sale or mortgage shall be authorized as herein provided and such property shall, after such sale or mortgage, be used for the general purposes of KRS
99.010 to 99.310 and maintained in accordance with the standards provided therefor by the planning commission of such city in the original certificate of approval issued for such redevelopment under and pursuant to the provisions of KRS § 99.040 to KRS § 99.060.
(4) Such certificate or certificates of completion shall be conclusive evidence, upon which any one (1) dealing with such property may rely, that the redevelopment of the property therein described has been fully completed in conformity with KRS
99.010 to 99.310 and the development plan.
Effective: June 2, 1942
History: Created 1942 Ky. Acts ch. 36, sec. 18.
(2) It shall be the duty of the supervising agency, upon request from a redevelopment corporation, to determine whether the redevelopment of the development area has been achieved, and if the supervising agency finds that such redevelopment has been finished and achieved it shall issue to the redevelopment corporation a certificate of completion showing that the redevelopment of such area has been completed. No such determination or finding shall affect any unit or units for which certificates of completion have been issued under subsection (1) of this section.
Terms Used In Kentucky Statutes 99.300
- City: includes town. See Kentucky Statutes 446.010
- 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
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(3) Such redevelopment property or unit thereof, may be sold or mortgaged, provided, however, that such sale or mortgage shall be authorized as herein provided and such property shall, after such sale or mortgage, be used for the general purposes of KRS
99.010 to 99.310 and maintained in accordance with the standards provided therefor by the planning commission of such city in the original certificate of approval issued for such redevelopment under and pursuant to the provisions of KRS § 99.040 to KRS § 99.060.
(4) Such certificate or certificates of completion shall be conclusive evidence, upon which any one (1) dealing with such property may rely, that the redevelopment of the property therein described has been fully completed in conformity with KRS
99.010 to 99.310 and the development plan.
Effective: June 2, 1942
History: Created 1942 Ky. Acts ch. 36, sec. 18.