Ky. Rev. Stat. § 103.240

Current through Acts Received April 24, 2024

Section 103.240 - Use of proceeds of bonds

All money received from the sale of the bonds shall be applied solely for:

(1) The acquisition of the industrial building and:

(a) Any utilities;

(b) Pollution control structures or equipment;

(c) Equipment or technologies employed to increase the energy efficiency of manufacturing facilities; or

(d) Other equipment requisite to the use of these assets;

(2) The acquisition of pollution control facilities and the structures or equipment requisite to the use thereof;

(3) The necessary expense of preparing, printing and selling said bonds;

(4) The refunding of any issued and outstanding bonds whether matured or otherwise;

(5) Providing a debt service reserve fund or any other reserve funds, if necessary; or

(6) To advance the payment of interest on the bonds during any portion of the first three (3) years following the date of the bonds.

KRS 103.240

Amended by 2014 Ky. Acts ch. 131,§ 5, eff. 7/15/2014.

Effective:7/13/1984
Amended 1984 Ky. Acts ch. 122, sec. 5, effective7/13/1984. -- Amended 1970 Ky. Acts ch. 64, sec. 5. -- Amended 1966 Ky. Acts ch. 119, sec. 2(1). --Created 1946 Ky. Acts ch. 58, sec. 5.