KRS 74.470: Authority to issue revenue bonds.

For the purpose of acquiring, either by purchase or construction, sources of supply of

water or for making improvements and extensions to sources of supply of water, a

commission may issue revenue bonds payable solely from the revenues to be derived

pursuant to water supply contracts with the cities, water districts, water associations,

federal agencies, political subdivisions, or other public bodies as provided in KRS 74.420

to 74.520. For that purpose the commission may issue revenue bonds and be vested w ith

all of the powers, duties, and responsibilities, including the power of condemnation,

delegated and granted to a "governmental agency" under the terms and provisions of KRS

Chapter 58, as the law now exists or as it may hereafter be amended. Under the law, the

term "governmental agency" means the "commission" and the term "public project"

means "sources of supply of water."