The local legislative body of such cities is hereby authorized by general ordinance or local law to appoint, establish or designate the chief financial officer of the city or some other official or bureau, commission or agency as the person or body to exercise the powers and perform the duties held by or incumbent upon a supervising agency pursuant to KRS 99.010 to 99.310, except that if there is a director of finance in the city he shall have the power and perform the duties of such supervising agency unle ss otherwise provided by ordinance. In the event the planning commission or the supervising agency of such city does not now have sufficient authority to carry out their respective duties under KRS 99.010 to 99.310, or to accomplish the purposes of those s ections, then such authority may be provided by general ordinance of the local legislative body of such city.
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