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36,272 statutes · page 29 of 1814
United States — Kentucky legislation
20 statutes shown from 36,272 source-backed records
Incorporated municipalities may use this chapter to provide for, construct, and finance improvements, and may switch from another law to this chapter if contractual rights are not impaired.
This section says related KRS provisions are meant to let municipalities use assessment financing for certain public improvements.
This section defines key terms used in the chapter, including government bodies, property, projects, wastewater, and sewer-district financing terms.
This section sets out the steps for starting and publicizing an improvement or wastewater collection project, including a first ordinance, a preliminary report, and a public hearing.
This section requires a public hearing, recordkeeping, and later written reporting, and lets the presiding officer manage the hearing and vote procedures.
After the hearing, the city governing body must receive and consider the report, and it may adopt a second ordinance with specified project and financing options.
An affected property owner may file a court action within 30 days after the second ordinance is passed and published, or file a notarized intent statement with the city clerk to get a 15-day extension.
If the required second ordinance and related conditions are satisfied, the city governing body or district board may proceed with the project and financing.
This section requires competitive bidding for the project and requires performance bonds on construction contracts. For wastewater collection projects, it also sets rules for assessments, lump-sum payments, bond issuance, and additional assessments if costs are short.
If all affected property owners ask for the improvement and waive specified formalities, the governing body may skip those steps; the requests must be recorded, the ordinance must note them, and the lien attaches when the authorizing ordinance is published.
This section lets a governing body or district adopt a third ordinance for certain bond-financed sewer or improvement projects, and it sets required bond, assessment, and payment terms.
The city may solicit sealed bids or proposals to buy the bonds after the third ordinance is adopted and after publication notice.
The city must deposit bond proceeds and related lump-sum payments in a bank or trust company, secure the funds, set aside interest for the sinking fund, and use the rest for project costs under payment limits.
The bonds are exempt from taxation, and the city can become personally liable to bondholders if it fails to promptly and fully pursue available collection remedies for improvement assessments.
Certain wastewater project costs must be assessed against benefited properties, with special rules for classified zones and properties lacking tax records.
Benefited property can be assessed for improvement projects, and no benefited property is exempt from assessment.
The governing body must levy annual improvement assessments when city or county taxes are levied, and those assessments are due when the taxes are due.
An annual improvement assessment becomes a lien on the benefited property and generally takes priority over other liens, with listed tax exceptions.
The city must keep proceeds from each improvement assessment project separate, deposit them in a specially designated account, and treat them as the sinking fund.
The city must keep sinking-fund money separate and use it only for bond principal and interest, and surplus must be refunded pro rata to benefited property owners.
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