Title XV, Roads, Waterways, and Aviation

Project development restrictions. (1) The developing authority and issuing authority may be the same authority or separate authorities, depending on the needs of the project. The developing authority and issuing authority shall have the following powers and duties, as necessary t…

authority -- Formation -- Members -- Bi-state agreement -- Financial plan -- Legislative findings and declarations -- Approval of project connecting Kentucky and Ohio. (1) (a) 1. This section shall apply to any project that connects Kentucky with any state that adjoins the Common…

Financial plan -- Submission of project for legislative ratification -- Membership of project authority -- Development agreement -- Commonwealth owns project upon bond retirement or termination of partnership. (1) Potential projects that are within Kentucky may be developed by a …

regulations. (1) The state authority, a bi-state authority, or a project authority may, with approval of the General Assembly pursuant to KRS 175B.020(10), and if applicable, KRS 175B.030(9), utilize a public-private partnership. (2) An authority utilizing a public-private partne…

-- Pledges of sinking fund -- Use and disposition of moneys -- Project users to pay appropriate toll -- Penalties -- Confidentiality of toll collection customer account information. (1) If imposed as part of the financing plan, tolls shall be fixed and adjusted by the developing …

(1) Each project, upon completion, shall continuously constitute a link between parts of the highway system of the Commonwealth, or between the Commonwealth and any state adjoining the Commonwealth, and shall always be open to public travel, subject to any tolls or restrictions e…

and premises for necessary construction work -- Administrative regulations concerning public utility facilities. (1) A project developed by an authority under this chapter may include construction of grade separations at intersections of any project or projects with public highwa…

The Commonwealth may enter into agreements with an authority regarding the use of any lands owned by it, including lands lying under water, which are deemed by the authority to be necessary for the construction or operation of any project.

(1) (a) 1. An issuing authority may, by resolution, authorize the issuance of project revenue bonds for the purpose of paying the cost of a project. 2. The principal of and the interest on the project revenue bonds shall be payable solely from the funds provided for the payment. …

Commonwealth or its subdivisions -- Statement on face of bonds. (1) Project revenue bonds issued by an authority under this chapter shall not constitute a debt of the Commonwealth or any of its political subdivisions, or a pledge of the faith and credit of the Commonwealth or any…

provisions. (1) (a) Any project revenue bonds issued under this chapter may be secured by a trust agreement by and between the issuing authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the Commonwealth…

of project revenue bond proceeds. (1) All moneys received under this chapter, whether as proceeds from the sale of project revenue bonds or revenues, shall be trust funds to be held and applied solely as provided in this chapter. The trust indenture or any other document authoriz…

essential governmental functions -- Tax-free status of projects and project revenue bonds. The exercise of the powers granted by this chapter shall be in all respects for the benefit of the people of the Commonwealth, for the increase of their commerce and prosperity, and for the…

Project revenue bonds issued by an authority under this chapter shall be securities in which all public officers and public bodies of the Commonwealth and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, …

damaged private property -- Permitted leases. (1) Each project constructed or operated under this chapter shall be maintained and kept in good condition and repair by the developing authority, which may contract with the department or with any local highway department for mainten…

Evaluation of tolls upon transfer of ownership -- Transfer of funds -- Actions required prior to and upon bond retirement or termination of partnership. (1) Not more than one (1) year prior to the scheduled retirement of all bonds issued to finance a project, the department shall…

(1) Within ninety (90) days after the expiration of each fiscal year, the state authority shall make an annual report of its activities for the preceding fiscal year to the Controller of the Commonwealth within the Finance and Administration Cabinet, the Transportation Cabinet, a…

Officers or employees of an authority shall not have any direct interest in the sale or purchase of any project revenue bonds authorized by that authority. Violation of this section shall be punishable by fine of not more than one thousand dollars ($1,000) or by imprisonment for …

officers, and employees. Board members, officers, and employees of each authority authorized under this chapter shall be indemnified from liability asserted by any person on the bonds or notes of the authority, or any personal liability or accountability by reason of: (1) The iss…

For a project for which preliminary planning or other work has been undertaken prior to the establishment of an authority, the authority shall follow all previous agreements, records of decision, or contracts entered into by the Commonwealth, subject to any modification necessary…