<br><br> <br>Page 1 of 1 <br>74.363 Merger of water districts -- Board of resulting district -- Transfer of assets -<br>- Payment of obligations. <br>(1) Boards of commissioners of any two (2) or more water districts may by concurrent <br>action and by approval of a majority of the membership of the board of each merge <br>their districts into one (1). <br>(2) The members of the boards of commissioners of the merged water districts shall <br>serve as members of the board of commissioners of the resulting district, regardless <br>of their normal term expiration, until one (1) year after approval of the merger by <br>the Public Service Commission. Thereafter, the board shall be composed as follows: <br>(a) If the boundaries of the resulting district lie wholly within a single county, the <br>board of commissioners shall be composed of between three (3) and seven (7) <br>members as agreed upon by the merged water districts in their merger <br>documents. <br>(b) If the boundaries of the resulting district lie within two (2) or more counties, <br>the board of commissioners shall be composed of six (6) or more members as <br>agreed upon by the merged water districts in their merger documents. <br>(3) Each appointment to the board of commissioners of the resulting district shall be <br>made by the appropriate county judge/executive with the approval of the fiscal <br>court. Each member of the board shall be a resident of the county from which he or <br>she is appointed. The initial terms of the board of commissioners after the merger <br>shall be as follows: approximately one-third (1/3) of the commissioners shall be <br>appointed for a term of two (2) years; approximately one-third (1/3) of the <br>commissioners shall be appointed for a term of three (3) years; and the remaining <br>commissioners shall be appointed for a term of four (4) years. Thereafter, all <br>commissioners shall be appointed for a term of four (4) years. KRS 74.020(2) to <br>(10) shall apply to all commissioners and vacancies on the board of commissioners. <br>(4) The resulting district shall have all the assets and legal liabilities of the water <br>districts joining in the merger. The separate existences of the water districts joining <br>in the merger, except the resulting district, shall cease, and the title to all real estate <br>and other property owned by the water districts joining in the merger shall be vested <br>in the resulting district without reversion or impairment. Bonded obligations of any <br>district secured by the right to levy an assessment as provided by KRS 74.130 <br>through 74.230 or secured by the revenue of the systems operated by the district <br>shall continue to be retired or a sinking fund for such purpose created from the tax <br>assessments or revenue from the system operated by the district from funds <br>collected over the same area by the new board of commissioners in accordance with <br>the laws under which the bonds were issued until all bonded obligations of the old <br>district have been retired. <br>Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 18, sec. 2, effective July 15, 2010. -- Amended <br>2008 Ky. Acts ch. 6, sec. 11, effective July 15, 2008. -- Amended 1998 Ky. Acts <br>ch. 76, sec. 2, effective July 15, 1998. -- Amended 1996 Ky. Acts ch. 236, sec. 2, <br>effective April 4, 1996. -- Amended 1994 Ky. Acts ch. 298, sec. 2, effective July 15, <br>1994. -- Created 1966 Ky. Acts ch. 70, sec. 4. <br><br>