{"data":{"id":"us-ky/krs-65.687","jurisdiction":"us-ky","citation":"KRS 65.687","heading":"Extension of termination date for development area -- Conditions.","body":"(1) The termination date for a development area may be extended beyond twenty (20)\nyears as provided in this section. To qualify for an extension of the termination date,\nthe development area shall meet the following conditions:\n(a) The initial development are a shall have been established by the county under\nKRS 65.686 prior to July 1, 2003, and all subsequent development areas\ncontiguous to the initial development area shall have been established prior to\nAugust 1, 2006;\n(b) The development area, consisting of  one (1) or more contiguous development\nareas, includes at least four hundred (400) acres in the aggregate; and\n(c) The agency that issued the increment bonds for the development areas\ndescribed in paragraphs (a) and (b) of this subsection shall, within tw o (2)\nyears of June 26, 2009, refund the outstanding increment bonds with the\nissuance of new increment bonds for a term not to exceed twenty (20) years.\n(2) The termination date for development areas meeting the requirements of subsection\n(1) of this sect ion shall be the term of the new increment bonds issued in\naccordance with subsection (1)(c) of this section, not to exceed twenty (20) years\nfrom the date the new increment bonds described in subsection (1)(c) of this section\nare issued.","path":["KRS Chapter 65"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=23456","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:22Z","sha256":"508f24bd24a32d74779ebec11066f6a39abe808d1583e95c484ec4d124304e24","source_id":"us-ky","stale":false,"prev":"us-ky/krs-65.686","next":"us-ky/krs-65.688"},"notice":"GroundRules: Original legal text. Not legal advice."}