KRS 65.684: Powers of city or county for economic development.

For any development area for which increments do not include revenues from the

Commonwealth, in addition to any other powers conferred by law, any city or county may

exercise any powers necessary or convenient to carry out the purposes of KRS 65.680 to

65.699, including the power to:

(1) Create development areas and to define their boundaries;

(2) Undertake projects;

(3) Issue increment bonds and pledge increments to the payment of debt charges on

those increment bonds;

(4) Create a special fund established for the deposit of increments and other funds that

may be used or pledged for the payment of increment bonds and to pay the costs of

projects;

(5) Utilize increments to pay the costs of economic development projects and for the

payment of amounts due on increment bonds; and

(6) Impose assessments.