The authority may, pursuant to the terms, conditions, restrictions and requirements of this chapter, assist with the const ruction or acquisition of infrastructure projects or with the improvement of the technical, managerial, or operational capacity of public drinking water and wastewater systems by: (1) Leasing an infrastructure project; (2) Making loans or grants as funds are available, to any governmental agency; or (3) Purchasing obligations of a governmental agency, provided that any financial assistance supplied to the governmental agency, as defined in KRS 224A.011, will not cause the interest on current or future stat e agency or authority obligations, if excludable from gross income for federal tax purposes, to be included in gross income for federal tax purposes.
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