{"data":{"id":"us-ky/krs-65.7065","jurisdiction":"us-ky","citation":"KRS 65.7065","heading":"Service payment agreement -- Power of city, county, or issuer to enter into","body":"agreement -- Liens, priority, validity, enforceability, and termination.\n(1) A city, county, or issuer may enter into a service payment agreement.\n(2) The service payment agre ement may provide that the city, county, or issuer shall\nhave a lien on property described in the service payment agreement equal to the\namount of periodic payments due under the service payment agreement. The service\npayment agreement may further provide that any lien created pursuant to this\nsection shall be governed by the provisions set forth in KRS 91A.280, provided that\na lien created pursuant to this section shall not have the priority established in KRS\n91A.280 in relation to an existing lien on the  property covered by the agreement\nunless, prior to recording the service payment agreement, the lien holder under the\nservice payment agreement provides notice of the lien created by the service\npayment agreement to the holder of the existing lien, and th e holder of the existing\nlien consents to the priority in writing. If written consent is not obtained, the priority\nof the lien created under this subsection in relation to the prior lien shall be\ndetermined in the same manner as a mortgage lien under KRS 382.280.\n(3) A lien authorized by this section shall not be valid and enforceable until evidence of\nthe lien has been recorded in the office of the county clerk. The lien shall commence\nupon the issuance of increment bonds or other obligations and shall co ntinue until\nother funding sources pledged to and derived from the project that is the subject of\nthe service payment agreement are sufficient to make, when due, all payments on\nthe increment bonds or other obligations identified in the service payment\nagreement. Upon termination of a lien authorized by this section, a release shall be\nfiled by the city, county, or issuer with the county clerk.","path":["KRS Chapter 65"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=23482","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:22Z","sha256":"9102dd42a5e511b96e49dbb6c3571301ea0ea16c92a1b89a4f44813a40133a94","source_id":"us-ky","stale":false,"prev":"us-ky/krs-65.7063","next":"us-ky/krs-65.7067"},"notice":"GroundRules: Original legal text. Not legal advice."}