United States — Kentucky Statutes

KRS § 103.140 Repealed, 1978.

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This section was repealed in 1978.

KRS § 103.150 Repealed, 1978.

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This section was repealed in 1978.

KRS § 103.160 Repealed, 1978.

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This section was repealed in 1978.

KRS § 103.170 Repealed, 1978.

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This section was repealed in 1978.

KRS § 103.180 Repealed, 1978.

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Section 103.180 was repealed in 1978.

KRS § 103.190 Repealed, 1978.

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This section was repealed in 1978; the former catchline was “Additional bonds.”

KRS § 103.195 Issuance of revenue bonds for housing project outside jurisdictional boundaries.

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Certain local governments and special districts may not issue revenue bonds for an out-of-area housing project unless the local legislative body where the project will be located gives express written consent.

• Housing projects
• Revenue bonds

KRS § 103.200 Definitions for KRS 103.200 to 103.285.

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This section defines key terms used in KRS 103.200 to 103.285, including "building" or "industrial building," "bonds" or "negotiable bonds," and "substantiating documentation."

• Bond financing
• Project definitions

KRS § 103.210 Issuance of bonds.

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Cities or counties may issue negotiable bonds to finance industrial buildings or pollution control facilities, if the required ordinance or resolution is adopted and the other stated publication and financing conditions are met.

• Bond issuance
• Industrial buildings
• Pollution control facilities
• Tax incentives

KRS § 103.2101 State local debt officer -- Kentucky Private Activity Bond Allocation Committee -- Review and approval or disapproval of projects -- Statement of assurance -- Maximum length of bond authorization.

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The state local debt officer and the Kentucky Private Activity Bond Allocation Committee must review certain bond projects, may request information, and may approve or disapprove projects; bonds cannot be issued until approval.

• Bond issuance
• Financial assurance
• Project approval
• Public hearing

KRS § 103.215 Alternative procedure for issuance of bonds.

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Cities or counties may use an alternative bond-financing procedure for industrial buildings and may structure the transaction as a loan, sale, or lease/sublease.

• Bond issuance
• Industrial building acquisition
• Project financing

KRS § 103.220 Interest on bonds -- Terms -- Approval -- Marketing -- Refunding.

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This section lets an issuer set many bond terms, including interest, maturity, redemption, and refunding arrangements, but it must not issue bonds in violation of federal arbitrage rules.

• Arbitrage
• Bond issuance
• Interest rates
• Redemption
• Refunding bonds

KRS § 103.230 Bonds negotiable -- Disposal -- Private sale, when -- Payable only from revenue.

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These bonds are treated as negotiable instruments, may be sold by the issuing authority, and must be payable only from building revenue.

• Bond issuance
• Private sales
• Public sales

KRS § 103.240 Use of proceeds of bonds.

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Bond sale proceeds must be used only for the purposes listed in this section.

• Bond proceeds
• Capital expenditure

KRS § 103.245 Definition of "building" and "industrial building" -- Acquisition procedure.

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This section defines which properties count as a "building" or "industrial building" for eminent domain and says cities or counties may acquire qualifying industrial buildings, while property already held for industrial development is exempt from condemnation.

• Acquisition procedure
• Condemnation
• Industrial development

KRS § 103.2451 Eminent domain power not conferred.

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KRS 103.200 and 103.210 do not give eminent domain power, except as allowed by KRS 103.245.

KRS § 103.246 Financing pollution control facilities for industrial concerns and utility companies by cities and counties.

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Cities and counties may use bonds and related transactions to finance pollution control facilities for industrial concerns or utility companies.

• Pollution control facilities
• Public finance

KRS § 103.250 Lien of bondholders on building -- Receiver on default.

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Bondholders get a statutory mortgage lien on the industrial building, and a court may appoint a receiver if bond principal or interest is in default.

• Bond financing
• Building liens
• Default remedies

KRS § 103.251 Mortgage deed of trust by issuer of bonds.

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This section allows bond financing to include a mortgage deed of trust and lets the trustee foreclose if the issuer defaults.

• Bond issuance
• Foreclosure
• Mortgage deed of trust

KRS § 103.260 Application of revenue -- Charges for use.

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Local officials must set aside and pledge industrial-building revenue, and rents must be set and revised to cover bond debt, maintenance, and depreciation.

• Bond revenue
• Industrial building charges