{"data":{"id":"us-ky/krs-175.460","jurisdiction":"us-ky","citation":"KRS 175.460","heading":"Contents of agreement between authority and department.","body":"In the event that the authority and the department shall deem it suitable, feasible,\nnecessary and expedient that any turnpike project or projects be financed or refinanced by\nthe authority and constructed by the authority or by the department on behalf of  the\nauthority under this chapter, the authority and the department are empowered to make one\nor more written agreements with regard thereto in which, as to each such project, the\nparties may include provisions as to any one or more of the following:\n(1) Identify the turnpike project to be financed by the authority, setting forth in general\nterms, subject to necessary revision from time to time as the work progresses, the\nprincipal features including geographic location, terminal points, width of right of\nway, number of lanes in each direction, width of traffic lanes, width of shoulders,\nwhether there shall be center division, location and nature of access points, tunnels,\nbridges, overpasses, underpasses, interchanges, entrance plazas, approaches,\nconnecting highways, tollhouses, service stations, garages, restaurants and other\ndesired appurtenances;\n(2) Set forth what portions, if any, of the cost of the project have been or shall\nthereafter be contributed by the department from the funds and other resource s\navailable to it during the then current biennium and not previously obligated, which\nmay include engineering and any other services performed by the staff of the\ndepartment; and that the department, if deemed desirable, shall supervise\nconstruction on behalf of the authority upon terms which are mutually acceptable;\n(3) Set forth what portions of the cost of the project shall or may be paid from the\nproceeds of bonds issued by the authority under this chapter;\n(4) Set forth any agreements of the authority  and the department with regard to\nplanning, design, acquisition of property, soliciting construction bids, awarding\nconstruction contracts, issuing of work orders, and such other steps as may be\nnecessary or incidental to the construction of the project, and authorizing and selling\nbonds for the project;\n(5) Agree that the project is intended to be and from and after the completion thereof\nwill continuously constitute a link between parts of the highway system of the\nCommonwealth and will always be open to public travel, subject to exaction of such\ntolls as may be prescribed from time to time whenever and so long as the exaction\nof tolls may be authorized by law or required by the proceedings authorizing the\nissuance of the bonds or the trust indenture securing the same;\n(6) Agree that from and after the completion of the project the department will\ncontinuously pay all or any part of the cost of repairing, maintaining and operating\nthe project as a public highway provided for the use of the Commonwealth,\nequitably belonging to the Commonwealth, and intended for ultimate\nunencumbered ownership by the Commonwealth;\n(7) Agree that upon the happening of stated events and the performance of stated\nconditions not inconsistent with law, the authority shall convey t he project to the\nCommonwealth;\n(8) Set forth generally or in detail any of the terms and provisions of any lease proposed\nto be entered into by and between the authority and the department under the\nprovisions of KRS 175.470;\n(9) Agree that upon determination of the amount of bonds to be issued by the authority\nfor the project and the interest rate or rates the bonds are to bear, and prior to the\ndelivery of any bonds to the purchaser thereof, the rental to be paid during the term\nof the lease and each bie nnial term for which the lease may be renewed shall be\nestablished according to a method of computation set forth therein and in the\nproposed lease, and that the authority and the department, each by authorized\npersons, shall execute such lease and file the original or a signed counterpart thereof\nin the offices of the authority, the department and the Secretary of State of the\nCommonwealth; and\n(10) Agree that the department shall set aside and, except as may be provided in any\nlease entered into under the provisions of KRS 175.470, pay over to the authority as\nrevenues of the turnpike all motor fuel taxes collected by the department on\ngasoline and other motor fuels consumed on such turnpike, except the two -sevenths\n(2/7) of said motor fuel taxes provided by KRS 138.220 to be set aside for the\nconstruction, reconstruction and maintenance of rural and secondary roads.","path":["KRS Chapter 175"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=5076","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:25Z","sha256":"f75ef6635d636167a0fe5fc564ab8ab138a6eae78eb06ef739a5c7c6b1480775","source_id":"us-ky","stale":false,"prev":"us-ky/krs-175.450","next":"us-ky/krs-175.470"},"notice":"GroundRules: Original legal text. Not legal advice."}