(1) Whenever a reasonable price cannot be agreed upon, the commission may condemn any property necessary or convenient for the improvement or the efficient operation of any property acquired or constructed under KRS 181.560 to 181.840, or for the purpose of co nstructing any bridge or portion of bridge, or for securing a right -ofway leading to the bridge or its approaches, in the manner provided in the Eminent Domain Act of Kentucky. (2) The commission may also exercise in Kentucky and adjoining states such powers of eminent domain as are conferred upon the city or commission by any Act of Congress. (3) Title to any property condemned by the commission shall be taken in the name of the city. The city shall be under no obligation to accept and pay for any propert y condemned, or any costs incidental to any condemnation proceedings, and shall in no event pay for property condemned or the cost of the proceedings except from the funds received under the provisions of KRS 181.560 to 181.840. (4) The court having jurisd iction of the condemnation proceedings may make such orders as may be just to the city and to the owners of the property to be condemned, and may require a bond or other security to secure the owners against any loss or damage to be sustained by reason of the failure of the city to accept and pay for the property. The bond or security shall impose no liability upon the city, except such as may be paid from the funds received under KRS 181.560 to 181.840.
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