Ky. Rev. Stat. § 65.684

Current through 2024 Ky. Acts ch.225

Section 65.684 - Powers of city or county for economic development

For any development area for which increments do not include revenues from the Commonwealth, in addition to any other powers conferred by law, any city or county may exercise any powers necessary or convenient to carry out the purposes of KRS 65.680 to 65.699, including the power to:

(1) Create development areas and to define their boundaries;

(2) Undertake projects;

(3) Issue increment bonds and pledge increments to the payment of debt charges on those increment bonds;

(4) Create a special fund established for the deposit of increments and other funds that may be used or pledged for the payment of increment bonds and to pay the costs of projects;

(5) Utilize increments to pay the costs of economic development projects and for the payment of amounts due on increment bonds; and

(6) Impose assessments.

KRS 65.684

Effective:7/15/2002
Amended 2002, Ky. Acts ch. 338, sec. 5, effective7/15/2002. -- Amended 2001, Ky. Acts ch. 133, sec. 6, effective 6/21/2001. -- Created 2000, Ky. Acts ch. 358, sec. 3, effective 7/14/2000.