KRS 67A.926: Occupational license tax levy to retire bonds.

In order to accomplish its purposes the authority, through its board, may request the

legislative body of the urban -county government in which it is located to levy an

occupational license tax on all businesses, commercial establishments, and professional

offices within the local parking district at a rate, which, when calculated in connection

with other revenues of the authority, shall not exceed the amount necessary to amortize

any bonds issued or proposed to be issued to finance the project or projects p roposed by

the authority, plus operating expenses of the authority. All occupational license taxes

authorized by this chapter shall be collected in the same manner as are all other

occupational license taxes and shall be turned over to the board of commiss ioners as the

governing body of the authority. Such taxes shall be solely for the benefit and purposes of

the authority and shall be in addition to all other taxes. The local legislative body may

levy the occupational license tax so requested initially and from year to year thereafter if

required in conjunction with other revenues, to amortize any bonds issued or proposed for

a project not disapproved under the authority of this chapter.