KRS 154.20-070: Authority backing limited to projects with significant private sector

financial support -- Terms and conditions determined by authority.

(1) Insurance, guarantees, or letters of credit shall not be provided or procured unless

the authority shall be legally assured that the loans, debentures, or leases insured, or

guaranteed, or for which letters of credit are issued, will be used to assist projects

which also have significant private sector financial support.

(2) Insurance, guarantees, or letters of credit may be provided or procured on the terms

and conditions the authority, in its sole discretion, shall determine to be reasonable,

appropriate, and consistent with the purposes and objectives of the authority and

this chapter.

(3) The authority may charge the lender or the borrower, or both, a fee or premium for

loan, debenture, or lease insurance, guarantee, or letter of credit. Guidelines for

premiums or fees charged by the authority for loan, debenture, or lease insurance,

guarantees, or letters of credit shall be established by the authority.