{"data":{"id":"us-ky/krs-66.061","jurisdiction":"us-ky","citation":"KRS 66.061","heading":"Bonds for public projects -- Credit enhancement facilities agreements.","body":"(1) An issuer may issue bonds for the purpose of paying all or any portion of the costs\nof any public project that the issuer is authorized, alone or in cooperation with other\npersons, to acquire, improve, or construct.\n(2) Costs of public projects that may be  financed with, and paid from the proceeds of\nbonds include, without limitation as to other costs properly allocable to the public\nproject, the costs of acquiring, constructing, reconstructing, rehabilitating,\ninstalling, remodeling, renovating, enlarging,  equipping, furnishing, or otherwise\nimproving the public project; site clearance, site improvement, and site preparation;\nacquisition of real or personal property; indemnity and surety bonds; premiums on\ninsurance, all related direct administrative expens es and allocable portions of direct\ncosts of the issuer; engineering, architectural, legal, and other consulting and\nprofessional services; designs, plans, specifications, feasibility, or rate studies;\nappraisals, surveys, and estimates of cost; interest o r interest equivalent on the\nbonds, whether capitalized or not; financing costs; title work and title commitment,\ninsurance and guaranties; amounts necessary to establish any debt service reserve or\nother reserves as required by the proceedings for the bon ds; audits; the\nreimbursement of moneys advanced or applied by or borrowed from any person,\nwhether to or by the issuer or others, from whatever source provided, for the\npayment of any item or items of cost of the public project; and all other expenses\nnecessary or incidental to planning or determining feasibility or practicability with\nrespect to the public project; or necessary or incidental to the acquisition,\nconstruction, reconstruction, rehabilitation, installation, remodeling, or other\nimprovement of  the public project; the financing of the public project; and the\nplacing of the public project in condition for use and operation; and all like or\nrelated costs; including any one, part, or combination of, or the issuer's share of,\nthose costs and expenses.\n(3) If, after the public project for which bonds were issued is available for use, the\nissuer determines that proceeds of those bonds are not needed to pay costs relating\nto that public project, those proceeds may be used to pay debt service on those\nbonds or used to pay the costs of another public project.\n(4) An issuer may enter into agreements obligating an issuer which relate to credit\nenhancement facilities.","path":["KRS Chapter 66"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=23575","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:23Z","sha256":"d0bcef46a109bc9975d960327ae77be5ec883e6a3a171903fc85e0c132be21bb","source_id":"us-ky","stale":false,"prev":"us-ky/krs-66.060","next":"us-ky/krs-66.070"},"notice":"GroundRules: Original legal text. Not legal advice."}