{"data":{"id":"us-ky/krs-224a.085","jurisdiction":"us-ky","citation":"KRS 224A.085","heading":"Interim financing.","body":"The authority may enter into interim financing agreements with governmental agencies,\nand governmental agencies may enter into interim financing agreements with the\nauthority in connection with eligible projects. Each such interim financing agreement may\nbe subject to the approval by the State Water Pollution Agency, or the State Public\nService Commission, if applicable, may contain and include such provisions as may be\nagreed upon by the parties thereto, and shall include and prescribe the following\nprovisions:\n(1) An estimate of the reasonable cost of the eligible project, as determined by the\nauthority;\n(2) The amount of state or federal grants or loans to be made to the governmental\nagency;\n(3) The time or times at which such state or federal grants or l oans shall become\npayable to the governmental agency;\n(4) The specific purpose or purposes for which the proceeds of state or federal grants or\nloans made to the governmental agency shall be expended;\n(5) The conditions under which state or federal grants or loans may be expended on\naccount of the eligible project by the governmental agency;\n(6) An agreement by the governmental agency:\n(a) To proceed expeditiously with and promptly complete the eligible project or\ncause same to be completed in accordance wi th the plans and specifications\napproved by federal and state agencies;\n(b) To commence or cause to be commenced operation of the eligible project on\ncompletion of construction and not to discontinue operations or dispose of\nsuch eligible project without the approval of the authority, and the State Water\nPollution Agency or State Public Service Commission, if applicable;\n(c) To operate and maintain or cause to be operated and maintained the eligible\nproject in accordance with applicable provisions of federa l and state law and\nthe terms and conditions of the loan documents implementing federal or state\ngrants or loans to the governmental agency;\n(d) To provide for the payment of the governmental agency's share of the cost of\nthe eligible project through the issuance of the governmental agency long term\ndebt obligations in the appropriate manner and at the appropriate time in order\nthat sufficient funds will be available to repay and retire bond anticipation\nnotes issued by the authority on behalf of said governmental agency.","path":["KRS Chapter 224A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=10563","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:42Z","sha256":"1c803326711a76ddf17d74a58485e1bbbcad0078fb6c254a89fdf4ee81b3187c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-224a.080","next":"us-ky/krs-224a.090"},"notice":"GroundRules: Original legal text. Not legal advice."}