{"data":{"id":"us-ky/krs-154.50-340","jurisdiction":"us-ky","citation":"KRS 154.50-340","heading":"Authority's power to receive appropriations and to finance by","body":"borrowing or by issuance of revenue bonds.\n(1) In order to provide money for the purchase of property necessary to develop\nindustrial sites, parks, and subdivisions, the legislative body  of any governmental\nunit creating the industrial development authority under KRS 154.50-301 to 154.50-\n346 may make an annual appropriation from its general fund for such industrial\ndevelopment. Any appropriation shall be made by the legislative body in su ch\namounts, in such proportion, and upon such terms as the legislative body may\ndetermine. All funds derived from such appropriation shall be turned over to the\nindustrial development authority for the purpose of carrying out the duties and\npowers of the authority.\n(2) The authority may borrow money and issue notes and other financial instruments on\nits own credit. The authority may pledge the appropriations or income anticipated,\nor the industrial sites, parks, and subdivisions, or both, as security for its debts.\n(3) The authority is authorized to defray the cost of acquiring and developing any\nindustrial sites, parks, and subdivisions through the issuance of revenue bonds\nissued under the terms, conditions, and procedures set forth in KRS 103.200 to\n103.285.\n(4) The authority may, as an alternative method and in addition to all other methods\nprovided by law, acquire and develop land for industrial and commercial use, and\nissue revenue bonds in connection therewith under the terms and provisions of KRS\nChapter 58; and under said law the term \"governmental agency\" means the authority\nand the term \"public project\" means industrial sites, parks, and subdivisions.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2969","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:57Z","sha256":"d8a8f253c2cbc9e13bea6c1973d1f51ce65463d4c964a40e8616ff4b14f24bda","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.50-336","next":"us-ky/krs-154.50-343"},"notice":"GroundRules: Original legal text. Not legal advice."}