KRS 82.105: Definitions for KRS 82.105 to 82.180.

As used in KRS 82.105 to 82.180, the following words and terms have the following

respective meanings unless it shall clearly appear from the context that another meaning

is intended:

(1) "City" means a city of any class;

(2) "Governing body" means the legislative body of a city;

(3) "Governmental agency" means the Commonwealth, the United States, or any

division, department, agency or instrumentality of either of them, including

agencies and instrumentalities in corporate form, whether created by legislati ve

enactment or organized as nonprofit corporations under general corporation laws for

the purpose of serving as agencies or instrumentalities of either of them;

(4) "Governmental project" means any building, structure, installation, activity,

undertaking or program proposed by a governmental agency in furtherance of any

lawful governmental or proprietary function of a governmental agency;

(5) "Contract of inducement" means any contract, agreement, or offer and acceptance,

whereby a city agrees to provide a n inducement to a governmental agency, under

authority of KRS 82.105 to 82.180, either (i) to establish or locate in the city or its

environs a governmental project which might, but for such inducement, be

established elsewhere, or not at all; or (ii) to e stablish or locate upon one or more

particular sites deemed by the city, acting through its governing body, to be best

situated in the interests of future city planning and development, or otherwise in the

best interests of the public health, safety, welfa re or convenience of the citizens and

inhabitants of the city and its environs, a governmental project otherwise chosen or

under consideration for establishment or location upon one or more other sites in or

near the same city;

(6) "Inducement" or "municip al inducement" means appropriation of public funds

derived from any source and not required by law to be applied, reserved or

appropriated to some other purpose, issuance of bonds and application of bond and

application of bond proceeds, and provision of a ny lands, improvements or

appurtenances authorized in KRS 82.105 to 82.180 to be acquired, constructed,

installed or undertaken by a city as an inducement for a purpose authorized to be

accomplished or promoted under the provisions of a contract of inducement;

(7) "Revenue bonds" and "general obligation bonds" mean, respectively, the bonds

which a city is authorized in KRS 82.105 to 82.180 to issue under such

designations;

(8) "Bonds" or "bond proceeds," if unaccompanied by other designation, refer to eithe r

revenue bonds or general obligation bonds, or both of them, and the proceeds

thereof, as the context may indicate.