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” shall mean the Department of Highways, or, if said department shall be abolished, the bureau, board, body or commission succeeding to the principal functions thereof or to whom the powers given by KRS § 177.390 to
177.570 to the department shall be given by law;
(3) The word “project” or the words “turnpike project” shall mean any express highway or superhighway or such part or parts thereof as may be constructed by the authority under the provisions of this chapter, including all bridges, tunnels, overpasses, underpasses, interchanges, entrance plazas, approaches, connecting highways, tollhouses, service stations, garages, restaurants, and administration, storage and other buildings and facilities which the authority may deem necessary for the operation of such project, together with all property, rights, easements and interests which may be acquired by the authority or by the department for the construction or the operation of such project;
(4) The word “cost” as applied to a turnpike project shall embrace the cost of construction, the cost of the acquisition of all land, rights of way, property, rights, easements and interests acquired for such construction, the cost of demolishing or removing any buildings or structures on land so acquired, including the cost of acquiring any lands to which such buildings or structures may be moved, the cost of all machinery and equipment, financing charges, provision for working capital in such amount as the authority shall determine to be reasonable, interest prior to and during construction and, if deemed advisable by the authority, for a period not exceeding two (2) years after completion of construction, cost of traffic estimates, engineering and legal expenses, cost of plans, specifications, surveys, estimates of cost and of revenues, other expenses as may be necessary or incident to determining the feasibility or practicability of constructing any such project, administrative expenses, and such other expense as may be necessary or incident to the construction of the project, the financing of such construction and the placing of the project in operation. Any obligation or expense hereafter incurred for a turnpike project by the authority or by the department on behalf of the authority, and any obligation or expense heretofore incurred by the department for any such turnpike project, for traffic surveys, borings, preparation of plans and specifications, engineering, and other services in connection with the construction of a project may be regarded as a part of the cost of such project and may, if advanced by the department, be reimbursed to it out of the proceeds of turnpike revenue bonds of the authority;
(5) The words “public highways” shall include all public highways, roads and streets in the Commonwealth, whether maintained by the Commonwealth or by any county, city, town or other political subdivision or agency;
(6) The word “bonds” or the words “revenue bonds” or “turnpike revenue bonds” shall
mean revenue bonds or revenue refunding bonds of the authority issued under the provisions of this chapter;
(7) The word “owner” shall include all individuals, copartnerships, associations, or corporations having any title or interest in any property, rights, easements or interests authorized by this chapter to be acquired;
(8) The word “agreement” shall mean a written agreement, made by and between the authority and the department under the provisions of KRS § 175.460, providing for the financing and constructing of one (1) or more turnpike projects by the authority;
(9) The word “lease” shall mean a written lease made by the authority as lessor and the department as lessee under the provisions of KRS § 175.470, relating to one (1) or more turnpike projects financed and constructed by the authority;
(10) The word “biennium” or the words “biennial period” or “biennial term” shall mean the two (2) year fiscal period of the Commonwealth, commencing on July 1 in each even-numbered year and ending on June 30 in the next ensuing even-numbered year.
Effective: March 25, 1960
History: Created 1960 Ky. Acts ch. 173, sec. 3, effective March 25, 1960.