{"data":{"id":"us-ky/krs-148.031","jurisdiction":"us-ky","citation":"KRS 148.031","heading":"Manner of payment of cost of acquisition and construction -- Revenue","body":"bonds.\n(1) The cost of acquiring parks and constructing improvements and facilities therein\nand equipping same may be defrayed by funds received from general expenditure\nfund appropriations, gifts, the use of money received as fees and charges for the use\nof sai d parks and facilities, or by the issuance of revenue bonds, or by a\ncombination of such sources of funds.\n(2) In the event revenue bonds are issued to defray all or any part of such costs, said\nrevenue bonds shall be issued pursuant to the terms of KRS 58.010 to 58.140.\n(3) The Department of Parks may unite into one (1) project for financing purposes all\nor as many parks, and the improvements therein, or to be constructed, enlarged or\nimproved, as it deems practicable, so that the fees and charges and othe r revenue or\nreceipts from every source whatsoever from the parks thus united shall be used for\nthe payment of the principal and interest of all bonds which may be issued. Such\nunited receipts shall continue until all bonds issued have been paid in full. T he lien\nof the bonds for such united project shall be a lien upon the gross income and\nrevenue of all parks thus united into a project.\n(4) All parks in which improvements and facilities are constructed and equipped by the\nissuance of revenue bonds shall b e maintained and operated by the Department of\nParks until the bonds are paid, and the cost of operation and maintenance shall be\npaid out of appropriations and receipts received by the Department of Parks.","path":["KRS Chapter 148"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=1692","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:40Z","sha256":"a0194d933d6fa4e3b445673be4e21e28dbb4143c1001b1bb7996397336f6a5fe","source_id":"us-ky","stale":false,"prev":"us-ky/krs-148.030","next":"us-ky/krs-148.033"},"notice":"GroundRules: Original legal text. Not legal advice."}