KRS § 153.420 — KY Code / Title XII / Chapter 153 / Section 153.420
153.420 Powers and duties of corporation
Status: in_force

153.420 Powers and duties of corporation.

The Kentucky Center for the Arts Corporation:

(1) Shall supervise construction of the Kentucky Center for the Arts in conjunction with

the Finance and Administration Cabinet, 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, lease or eminent domain, or by transfer from the State Property

and Buildings Commission, and may dispose of any property so acquired in any

manner provided by law. In the exercise of its power of eminent domain, it shall

proceed in the manner provided in the Eminent Domain Act of Kentucky, KRS

416.540 to 416.680;

(3) May consult or enter into agreements with other segments of the arts and

entertainment industry to provide technical, professional, or management support or

assistance, consistent with its purpose and mission;

(4) May issue revenue bonds, subject to procedures which shall be established by the

Finance and Administration Cabinet, solely payable from the charges, revenues,

rentals, 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;

(5) Shall promote the growth and development of the arts, convention trade, tourism

and the hotel industry within Jefferson County and the Commonwealth, through

utilization of the Kentucky center and activities authorized in this section to

enhance these and the public interest;

(6) May adopt administrative regulations, as provided in KRS Chapter 13A, governing

the operation, maintenance or use of property under its custody and control;

(7) May levy a surcharge on tickets for all functions held within the center to contribute

to operating revenue;

(8) May receive tax revenues from any governmental unit, and financial contributions

of local governments, private persons and foundations;

(9) Shall have exclusive control of all exhibitions, performances and concessions in the

Center for the Arts. 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 such property

upon ten (10) days' notice to satisfy any indebtedness;

(10) Shall develop in conjunction with local hotels, and the arts and entertainment

industry, tourist packages including performance and group plans, and shall

participate with local hotels and convention bureaus in attracting non-arts related

conferences and conventions;

(11) May establish an executive committee from among its membership with full

authority to act between its meetings to the extent delegated by the corporation;

(12) May sue and be sued and maintain and defend legal actions in its corporate name;

(13) May, if the corporation elects, be exempt from the provisions of KRS 56.065 to

56.180, and, with the approval of the secretary of the Finance and Administration

Cabinet and the Department of Insurance, purchase from the funds allotted to the

corporation property insurance for buildings and contents from responsible

insurance companies doing business in this state; and

(14) May purchase liability insurance for the protection of the corporation and its

employees from liability arising in the operation of the center.