KRS 103.240: Use of proceeds of bonds.

All money received from the sale of the bonds shall be applied solely for:

(1) The acquisition of the industrial building and:

(a) Any utilities;

(b) Pollution control structures or equipment;

(c) Equipment or technologies employed to increase the energy efficiency of

manufacturing facilities; or

(d) Other equipment requisite to the use of these assets;

(2) The acquisition of pollution control facilities and the structures or equipment

requisite to the use thereof;

(3) The necessary expense of preparing, printing, and selling said bonds;

(4) The refunding of any issued and outstanding bonds whether matured or otherwise;

(5) Providing a debt service reserve fund or any other reserve funds, if necessary;

(6) To advance the payment of interest on the bonds during any portion of the first

three (3) years following the date of the bonds; or

(7) To pay working capital expenditures.