Kentucky Statutes 154.20-045 – Insurance or guarantee by authority
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(1) The authority may insure, guarantee, or issue letters of credit for all or a part of a loan or debenture of others, public or private.
(2) The authority may insure, guarantee, or issue letters of credit for all or a part of a lease entered into by others, public or private.
(3) The authority may procure insurance, a guarantee, or a letter of credit from any source for all or a part of a loan, debenture, or lease of others, public or private. The authority may procure insurance, a guarantee, or a letter of credit for either a single loan, debenture, or lease or for any combination of loans, debentures, or leases.
(4) The authority may insure, guarantee, or issue letters of credit for all or a part of a revenue bond issued by the authority, another state agency or authority, or another entity or authority authorized by law to issue revenue bonds.
(5) The authority may procure insurance, a guarantee, or a letter of credit for all or a part of a revenue bond issue of the authority, another state agency or authority, or another entity or authority authorized by law to issue revenue bonds. The authority may procure insurance, a guarantee, or a letter of credit for either all or part of a single revenue bond issue or for all or a part of any combination of revenue bond issues.
Effective: July 15, 1988
History: Created 1988 Ky. Acts ch. 383, sec. 9, effective July 15, 1988.
Formerly codified as KRS § 154.047
(2) The authority may insure, guarantee, or issue letters of credit for all or a part of a lease entered into by others, public or private.
Terms Used In Kentucky Statutes 154.20-045
- Authority: means the Kentucky Economic Development Finance Authority, consisting of a committee as set forth in KRS §. See Kentucky Statutes 154.1-010
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- State: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
(3) The authority may procure insurance, a guarantee, or a letter of credit from any source for all or a part of a loan, debenture, or lease of others, public or private. The authority may procure insurance, a guarantee, or a letter of credit for either a single loan, debenture, or lease or for any combination of loans, debentures, or leases.
(4) The authority may insure, guarantee, or issue letters of credit for all or a part of a revenue bond issued by the authority, another state agency or authority, or another entity or authority authorized by law to issue revenue bonds.
(5) The authority may procure insurance, a guarantee, or a letter of credit for all or a part of a revenue bond issue of the authority, another state agency or authority, or another entity or authority authorized by law to issue revenue bonds. The authority may procure insurance, a guarantee, or a letter of credit for either all or part of a single revenue bond issue or for all or a part of any combination of revenue bond issues.
Effective: July 15, 1988
History: Created 1988 Ky. Acts ch. 383, sec. 9, effective July 15, 1988.
Formerly codified as KRS § 154.047