KRS 175.760: Definitions for KRS 175.750 to 175.810.

As used in KRS 175.750 to 175.810, and as applied to the financing of construction,

reconstruction, resurfacing, and relocation of economic development roads by the

Turnpike Authority of Kentucky, the following words and phrases shall have the

following re spective meanings unless another or different meaning or intent shall be

clearly indicated by the context.

(1) "Authority" shall mean the Turnpike Authority of Kentucky duly organized and

existing pursuant to the provisions of KRS 175.410 to 175.690, inclusive.

(2) "Bonds" or "economic development road revenue bonds" shall mean economic

development road revenue bonds of the authority issued under the provisions of

KRS 175.780. No bonds may be issued for terms exceeding twenty-five (25) years.

(3) "Cabinet" shall mean the Transportation Cabinet of Kentucky or, if said cabinet

shall be abolished, the cabinet, board, bureau, body or commission succeeding to

the principal functions thereof or to whom the powers vested in the cabinet shall be

given or transferred by law.

(4) "Economic development road project" or "project" shall mean the construction,

reconstruction, or relocation of any highway, road, or thoroughfare or such part or

parts thereof as shall have been designated by the cabinet to constitute a part o f the

economic development road system of the Commonwealth, which project may

include the construction, reconstruction, repair, or relocation of highways, roads,

thoroughfares, bridges, tunnels, overpasses, underpasses, interchanges, approaches,

and connecting highways.

(5) "Notes" shall mean any economic development road revenue bond anticipation

notes, or any economic development road revenue notes. Revenue bond anticipation

notes shall be payable from the proceeds of bonds, renewal notes, or income and

revenues derived from the leasing by the authority of any project or projects to the

cabinet. Revenue notes shall be payable solely from income and revenues derived

from the leasing by the authority of any project or projects to the cabinet. Notes may

be issued for terms not to exceed five (5) years.

(6) All words and phrases which are defined and used in KRS 175.410 to 175.690 and

175.990, inclusive, shall have the same meaning or meanings when used in KRS

175.750 to 175.810, except that the words and phras es "turnpike project" or

"project" as used in said identified sections shall mean and refer to economic

development road projects constructed and financed pursuant to KRS 175.750 to

175.810.