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.
‹ Prev All Kentucky sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.