{"data":{"id":"us-ky/krs-183.134","jurisdiction":"us-ky","citation":"KRS 183.134","heading":"Appropriations for airports -- Bond issue, election, tax.","body":"(1) In order to provide money for the purchase of property necessary for the\nestablishment or expansion of airports and to construct, equip, and maintain\nbuildings necessary, desirable, or appropriate for airport purposes, or to acquire\nrights or interests or contracts for services, the legislative body of any governmental\nunit owning in whole or part any airport or operating an airport, or having any rights\nor interests in an airport or contracts for services from an airport, may make an\nannual appropriation f rom its general fund; or the governmental unit may make an\nannual levy to collect a tax on taxable property situated in the governmental unit for\nairport development. Any appropriation shall be made by the legislative body in\namounts, in proportion and upo n terms as the legislative body may determine. All\nfunds derived from an appropriation or tax shall be turned over to the airport board,\nif any, for the purpose of carrying out the duties and powers of the board.\n(2) Whenever a governmental unit deems it n ecessary to acquire, construct, maintain,\nexpand, finance, or improve any airport facilities or air navigation facilities or rights\nor interests in any facilities, or to contract for services from the facilities, or for any\nor all of these purposes, and th e annual funds raised from other sources are not\nsufficient to accomplish the purpose, the governmental unit shall make a careful\nestimate of the amount of money required for the purpose and shall certify to the\nproper tax levying authority the fact that a n election for an issue of bonds for\naviation purposes shall be held, together with the amount of money for which bonds\nshall be issued and the purpose to which the proceeds shall be applied. The taxing\nauthority shall then adopt an ordinance or resolution  submitting to the qualified\nvoters of the district the question as to whether bonds shall be issued for the\npurpose. The question shall be so framed that the voter may by his vote answer\n\"For\" or \"Against.\"\n(3) The ordinance or resolution shall fix the ti me the bonds shall run and, if a serial\nissue, the amount to mature at each time. It shall limit the rate of interest to be\npermitted on the bonds and the total amount of bonds to be issued, and shall provide\nfor the levy of a tax to pay the interest and t o create a sinking fund to retire them at\ntheir maturity.\n(4) The election shall be held at a time fixed in the ordinance or resolution, not less\nthan fifteen (15) nor more than thirty (30) days from the time the certificate of the\ngovernmental unit is fil ed with the tax levying authority, and reasonable notice of\nthe election shall be given. The election shall be conducted and carried out in the\ngovernmental unit district in all respects as required by the general election laws,\nand shall be held by the sa me officers as required by the general election laws. The\nexpense of the election shall be paid by the fiscal court except where the election is\nheld in a district embracing a city with a population equal to or greater than one\nthousand (1,000) based upon the most recent federal decennial census, in which\ncase the cost of the election shall be paid by the governing body of the city.\n(5) Notwithstanding the limitations contained in KRS 132.023, any governmental unit\nwhich after March 21, 1968, levies a tax f or aviation purposes under this chapter\nmay exclude the tax from consideration in calculating the compensating tax rate as\nnow or subsequently defined in KRS 132.010 or any amendments or other act\nsubstituted relating to that section.","path":["KRS Chapter 183"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43847","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:34Z","sha256":"bfec98e97da52aa6e1bfdf4eca82df4ba729d8a41678f2063a3abd92e4c29e3a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-183.1335","next":"us-ky/krs-183.135"},"notice":"GroundRules: Original legal text. Not legal advice."}