Duration of contracts -- Renewal or termination

Any contract entered into under the provisions of KRS 79.110 to 79.180 shall be for a term of at least two (2) years and not more than four (4) years. At least one (1) year before the termination date of any such contract, each contracting party shall in writing notify the other or others of its intention to enter into a new contract concerning the services rendered and received or of its intention to terminate the arrangements.