KRS 82.170: Bonds exempt from taxation.

The exercise of the powers granted by KRS 82.105 to 82.180 will be in all respects for

the benefit of the people of the Commonwealth and its political subdivisions, for the

increase of their commerce and prosperity, and for the promotion of employment and the

alleviation of unemployment; and as the acquisition of a governmental project or projects

by a city will constitute the performance of essential governmental functions, and will aid

in the performance of other governmental functions by the Commonwealth and by the

United States, the bonds issued under the provisions of KRS 82.105 to 82.180, whether

general obligation or revenue bonds, their transfer and the income therefrom (including

any profit made on the sale thereof) shall at all times be free from t axation within the

Commonwealth.