{"data":{"id":"us-ky/krs-148.850","jurisdiction":"us-ky","citation":"KRS 148.850","heading":"Tourism Development Finance Authority created -- Members -- Terms --","body":"Conflicts of interest -- Powers.\n(1) The Tourism Development Finance Authority is created within the Tourism, Arts\nand Heritage Cabinet. The authority shall consist of nine (9) members appointed by\nthe Governor, at least one (1) of whom shall represent individuals with professional\nexperience in financial management or economic development. The members of the\nauthority shall serve without compensation but shall be entitled to  reimbursement\nfor their necessary expenses incurred in performing their duties. Of the members\ninitially appointed to the authority, two (2) members shall be appointed for terms of\none (1) year, three (3) members shall be appointed for terms of two (2) ye ars, and\ntwo (2) members shall be appointed for terms of three (3) years. Thereafter, the\nmembers of the authority shall be appointed for terms of four (4) years.\n(2) The Governor shall appoint one (1) member as chairperson of the Tourism\nDevelopment Finan ce Authority. The members of the authority may elect other\nofficers as they deem necessary.\n(3) No member of the Tourism Development Finance Authority shall either directly or\nindirectly be a party to, or be in any manner interested in, any contract or agreement\nwith the authority for any matter, cause, or thing that creates any liability or\nindebtedness against the authority.\n(4) The Tourism Development Finance Authority shall have the powers necessary to\ncarry out the purposes of this section, KRS 139.536 , and KRS 148.851 to 148.860,\nincluding but not limited to the power to:\n(a) Employ fiscal consultants, attorneys, appraisers, and other agents on behalf of\nthe authority whom the authority deems necessary or convenient for the\npreparation and administrati on of agreements and documents necessary or\nincidental to any project. The fees for the services provided by persons\nemployed on behalf of the authority shall be paid by the beneficiary of a loan\nunder this program directly to the person providing consulta tion, advisory,\nlegal, or other services; and\n(b) Impose and collect fees and charges in connection with any transaction and\nprovide for reasonable penalties for delinquent payment of fees and charges.","path":["KRS Chapter 148"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=51381","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:41Z","sha256":"deca92c8c5765f0a254a9eafa87673605ce4ec1f472a40c7f106dae3ed2f7f12","source_id":"us-ky","stale":false,"prev":"us-ky/krs-148.840","next":"us-ky/krs-148.851"},"notice":"GroundRules: Original legal text. Not legal advice."}