{"data":{"id":"us-ky/krs-96.550","jurisdiction":"us-ky","citation":"KRS 96.550","heading":"Definitions for KRS 96.550 to 96.900.","body":"As used in KRS 96.550 to 96.900, unless the context requires otherwise:\n(1) \"Acquire\" shall mean and include construct, acquire by purchase, by lease, devise,\ngift, or the exercise of the right of eminent domain in the manner now or hereafter\nprovided by law for the exercise thereof and acquisition by any other mode.\n(2) \"Board\" shall mean a board of public utilities established pursuant to KRS 96.740.\n(3) \"Bonds\" shall mean either general obligation bonds or revenue bonds.\n(4) \"Constitution\" shall mean the Constitution of Kentucky.\n(5) \"Electric plant\" shall mean and include any plant, works, systems, facilities, and\nproperties (including poles, wires, stations, transformers, and any and all equipment\nand machinery), together with all parts thereof and appu rtenances thereto, used or\nuseful in the generation, production, transmission, or distribution of energy.\n(6) \"Energy\" shall mean and include any and all electric energy no matter where or how\ngenerated, produced, transmitted, or conveyed.\n(7) \"Electric se rvice\" shall mean the furnishing of electric power and energy for any\npurpose for which electric power and energy can be used.\n(8) \"General obligation bonds\" shall mean direct or general obligations of any\nmunicipality, issued within the limits and subject  to the provisions of Sections 157\nand 158 of the Constitution.\n(9) \"Governing body\" shall mean the board, council, commission, fiscal court, or other\ngeneral governing body of the municipality.\n(10) \"Governmental agency\" includes the United States, the Pr esident, the federal works\nagency, the federal lending agency, Tennessee Valley Authority, or any other\nsimilar agency, instrumentality, or corporation of the United States, or of Kentucky\nor any political subdivision thereof, created by or pursuant to any  Act of Congress\nor by state legislation.\n(11) \"Improve\" shall mean and include construct, reconstruct, improve, extend, enlarge,\nalter, better, and repair.\n(12) \"Improvement\" shall mean any improvement, extension, betterment, or addition to\nany electric plant.\n(13) \"Law\" shall mean any statute of this state.\n(14) \"Mayor\" shall mean the mayor of any class city unless there be a city manager, then\nit shall mean city manager, or the county judge/executive of any county. \"Mayor\"\nshall also mean the mayor of a consolidated local government.\n(15) \"Municipality\" shall mea n any county, city, consolidated local government, or\nmunicipal corporation of any and every class in the Commonwealth of Kentucky.\n(16) \"Revenue bonds\" shall mean obligations payable solely from the revenues derived\nfrom the operation of an electric plant  and such bonds shall not constitute an\nindebtedness of any municipality within the meaning of the provisions or\nlimitations of the Constitution.\n(17) \"Net revenues\" shall mean revenues remaining after payments of:\n(a) All payments provided for herein to b e made to the state, county, school or\nother taxing district;\n(b) The payments of salaries, and premiums on bonds of officers and employees\nof the board; and\n(c) All other ordinary and necessary operating expenses of the board in the\noperation of the electric plant including reserves for depreciation.","path":["KRS Chapter 96"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26261","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:58Z","sha256":"59cfe1a5920e829470a282d0b4e305905d12707e1db469ca774fc2c5b8710e9d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-96.547","next":"us-ky/krs-96.560"},"notice":"GroundRules: Original legal text. Not legal advice."}