Ky. Rev. Stat. § 103.240

Current through 2024 Ky. Acts ch.225

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;

(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; or

(7) To pay working capital expenditures.

KRS 103.240

Amended by 2024 Ky. Acts ch. 128,§ 1, eff. 7/15/2024.

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.