{"data":{"id":"us-ky/krs-99.260","jurisdiction":"us-ky","citation":"KRS 99.260","heading":"Power of corporation to borrow money and execute mortgages.","body":"(1) Upon first obtaining the approval of the supervising agency, any redevelopment\ncorporation may borrow funds for use in the redevelopment, before or during such\nredevelopment, and secure the repayment of same by mortgage or mortgages. Every\nsuch mortgage shall be a lien upon no other property except that forming the whole\nor a part of a single development area.\n(2) Any redevelopment corporation may also borrow funds and secure the repayment\nthereof by mortgage or mortgages. Every such mortgage shall contain  reasonable\namortization provisions and be a lien upon no other real property except that\nforming the whole or a part of a single development area.\n(3) Any redevelopment corporation may mortgage the real property in a development\narea, or any part thereof, and create a first lien, or a second or other junior lien, upon\nsuch real property, as the case may be.","path":["KRS Chapter 99"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26526","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:01Z","sha256":"b7a03664324fcd2bdd8352ff9b6ea9da93c5f8b5735fc89ece913d925a9419e1","source_id":"us-ky","stale":false,"prev":"us-ky/krs-99.250","next":"us-ky/krs-99.270"},"notice":"GroundRules: Original legal text. Not legal advice."}