Ky. Rev. Stat. § 99.490
If the council within its discretion finds and determines that it would be more efficient and in the public interest for the powers, functions, and duties of an agency to be exercised by the community or the housing authority of the community, such community or housing authority shall have all of the powers, functions, rights, duties and privileges (subject to the limitations thereon) of an agency under KRS 99.330 to 99.510, and any powers of a public body (including a community) to assist an agency, or a project thereof, may be exercised to assist such community or housing authority or the project thereof. For such purposes, the term "agency," as used in KRS 99.330 to 99.510, shall mean the housing authority or the city or county, as the case may be, unless a different meaning clearly appears from the context. If a community has, pursuant to this section, determined to exercise the powers, functions, and duties of an agency, it may delegate any of them to a department or departments of such community, or may create a special department to exercise the powers and perform the functions and duties of an agency; provided that no such department or departments shall have the power to issue the bonds or acquire title to real property, this power being reserved to the community. Bonds issued by the community or by the housing authority of the community for any purposes under KRS 99.330 to 99.590 may be revenue bonds.
KRS 99.490
Amended 1956 Ky. Acts ch. 215, sec. 10, effective2/28/1956. --Created 1950 Ky. Acts ch. 119, sec. 18.