Title XV, Roads, Waterways, and Aviation

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…

As used in this chapter, the following words shall have the following respective meanings, unless another or different meaning or intent shall be clearly indicated by the context: (1) The word "authority" shall mean the Turnpike Authority of Kentucky; (2) The word "department" sh…

This chapter is intended to supplement KRS 177.390 to 177.570 by providing an additional and alternative method for the provision and financing of turnpikes and appurtenant facilities to the end that such projects may be undertaken in such manner as may best be calculated to expe…

The Turnpike Authority of Kentucky is created solely to perform essential governmental functions and to serve the public purposes of constructing, acquiring, financing and operating turnpike and other road projects for the use, safety, convenience and general welfare of the trave…

Corporate character. (1) The Governor, the Lieutenant Governor, the secretary of finance and administration, the State Highway Engineer, the secretary of economic development, the secretary of transportation, and the Attorney General, and their respective successors in office, sh…

department. In order to provide for the construction of modern express highways or superhighways embodying safety devices (including, when determined by the authority and the department to be feasible and necessary, center division, ample shoulder widths, longsight distances, two…

The authority is hereby authorized and empowered: (1) To construct, reconstruct, maintain, repair, operate, and regulate turnpike projects at such locations within the Commonwealth as may be determined by the authority and the department and provided for in an agreement or agreem…

In the event that the authority and the department shall deem it suitable, feasible, necessary and expedient that any turnpike project or projects be financed or refinanced by the authority and constructed by the authority or by the department on behalf of the authority under thi…

The authority and the department are authorized and empowered to enter into a lease or leases with respect to any turnpike project or projects pursuant to any agreement or agreements made under the provisions of KRS 175.460. Any lease may contain, in substance, any of the provisi…

Every project of the authority shall be open to regular policing by the Department of Kentucky State Police as in the case of other public highways of the Commonwealth.

of access -- Regulations as to public utility facilities on or along turnpike projects. (1) The authority shall have power to construct grade separations at intersections of any turnpike project or projects with public highways and to change and adjust the lines and grades of suc…

(1) The authority is authorized to provide, at one (1) time or from time to time, for the issuance of its turnpike revenue bonds for the purpose of paying all or any part of the cost of any one (1) or more turnpike projects undertaken pursuant to an agreement and lease. The princ…

payment of turnpike authority debt. There is hereby created a fund in the road fund of the Commonwealth of Kentucky entitled the debt payment acceleration fund. The fund shall consist of twenty percent (20%) of the revenues to the state road fund provided by the adjustments in KR…

Revenue bonds issued by the authority under the provisions of this chapter shall not be deemed to constitute a debt of the department or of the Commonwealth or of any political subdivision thereof, or a pledge of the faith and credit of the department or of the Commonwealth or of…

Disposition of toll revenues. (1) The authority, while having the right to control tolls under this chapter or any lease, and the department, while having such right under this chapter or any such lease, are hereby authorized to fix, revise, charge, and collect tolls for the use …

(1) The authority or the cabinet shall establish by administrative regulation promulgated pursuant to KRS Chapter 13A a toll-road identification card to be provided to paying and nonpaying users of toll facilities. The toll-road identification cards shall be issued through an app…

In the discretion of the authority, any bonds issued under the provisions of this chapter may be secured by a trust indenture by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the Co…

All moneys received pursuant to the provisions of this chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds to be held and applied solely as provided in this chapter. The proceedings or the trust indenture shall provide that any of…

Any holder of bonds issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee under any trust indenture, except to the extent the rights herein given may be restricted by such trust indenture, may, either at law or in equity, by suit,…

The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the Commonwealth, for the increase of their commerce and prosperity, and for the improvement of their health and living conditions, and as the operation and maintenance of …

Bonds issued by the authority under the provisions of this chapter are hereby made securities in which all public officers and public bodies, agencies and instrumentalities of the Commonwealth and its political subdivisions, all insurance companies, trust companies, banking assoc…

property by county or city -- Annual report of turnpike activities -- Audits -- Prohibition of interest of department or authority personnel. (1) Except as otherwise provided in the agreement or lease relating thereto, each turnpike project when constructed and opened to traffic …

for condemning railroad property. (1) The authority is hereby authorized and empowered to acquire by purchase, whenever it shall deem such purchase expedient, solely from funds provided pursuant to this chapter, such lands, structures, property, rights, rights of way, franchises,…

Investment of proceeds -- Agreements and leases -- Securing bonds. (1) The authority is hereby authorized to provide for the issuance of its turnpike revenue refunding bonds for any combination of the following purposes: (a) The refunding of any bonds then outstanding, whether an…

Except as hereinafter provided in this section, when all bonds issued under the provisions of this chapter in connection with any turnpike project or projects and the interest thereon shall have been paid or a sufficient amount for the payment of all such bonds and the interest t…

The department is hereby authorized in its discretion to expend such moneys as may be necessary for the study of any turnpike project or projects and to use its engineering and other forces and employ consulting engineers and traffic engineers for the purpose of effecting such st…

This chapter shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby, and shall be regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation of any powers now existi…

The General Assembly of the Commonwealth of Kentucky determines as a legislative finding of fact that the economy of the Commonwealth is, to a major degree, dependent upon the severance and production of coal, which is the most abundant and valuable mineral resource of Kentucky; …

As used in KRS 175.640 to 175.690, and as applied to the financing of resource recovery roads by the Turnpike Authority of Kentucky, the following words and phrases shall have the following respective meanings, unless another or different meaning or intent shall be clearly indica…

Subject to the provisions of KRS 175.640 to 175.690, the Turnpike Authority of Kentucky may initiate, plan, implement, acquire, construct and finance resource recovery road projects utilizing and employing all of the authority, rights and procedures granted to the authority by KR…

Bonds. In order to provide for the construction of resource recovery road projects, the authority is hereby authorized and empowered under and pursuant to the terms and provisions of a written agreement or agreements with the cabinet to construct, finance, maintain, repair and op…

In the event that the authority and the cabinet shall undertake the planning, construction and financing of any resource recovery road project, it may be provided in connection with such financing that resource recovery road revenue bonds issued in respect of any such project sha…

All funds credited to the state transportation fund (road fund), from severance tax collection, shall be used for the purposes of paying the annual lease rental payments to the Kentucky Turnpike Authority for resource recovery road projects. Any funds deposited to the credit of t…

The General Assembly of the Commonwealth of Kentucky determines as a legislative finding of fact that the economy of the Commonwealth and the consequent economic development potential of the citizens of the Commonwealth are vitally dependent upon the existence and availability of…

As used in KRS 175.750 to 175.810, and as applied to the financing of construction, reconstruction, resurfacing, and relocation of economic development roads by the Turnpike Authority of Kentucky, the following words and phrases shall have the following respective meanings unless…

projects. Subject to the provisions of KRS 175.640 to 175.690, the Turnpike Authority of Kentucky may initiate, plan, implement, acquire, construct and finance economic development road projects utilizing and employing all of the authority, rights and procedures granted to the au…

bonds and notes. To provide for the construction, reconstruction, and relocation of economic development road projects, the authority is hereby authorized and empowered, subject to the limitations contained in a branch budget bill as defined in KRS 48.010, under and pursuant to t…

Tolls prohibited. In the event that the authority and the cabinet shall undertake the planning and financing of any economic development road project, it shall be provided in connection with such financing that economic development road revenue bonds or notes issued in respect of…