KRS 175.640: Legislative findings.

The General Assembly of the Commonwealth of Kentucky determines as a legislative

finding of fact that the economy of the Commonwealth is, to a major degree, dependent

upon the severance and production of coal, which is the most abundant and valuable

mineral resource of Kentucky; that there is a serious shortage of transportation facilities

for the transportation of coal from mines to market; that many of the roads, bridges and

highways situated in the coal -producing areas of the Commonwealth are obsolete an d

inadequate for the uses to which they are subjected, and have, in many cases deteriorated

to the point where their use is hazardous and represents a potential threat to the safety and

welfare of the traveling public; and that the shortage of modern, heav y-duty road systems

in such areas is seriously retarding the continued economic growth of the

Commonwealth. The General Assembly of the Commonwealth of Kentucky further

determines as a legislative finding of fact that the construction and financing of reso urce

recovery roads through the Turnpike Authority of Kentucky utilizing coal severance tax

allocations for the amortization of resource recovery road revenue bonds issued to

provide funds to construct such roads will preserve and enhance the economic viability of

the Commonwealth, will protect and enhance the safety, health, convenience and general

welfare of the traveling public, and will therefore constitute the performance of essential

governmental and public purposes.