Kentucky Statutes 441.625 – General powers of authority — Authorization for revenue bonds and revenue bond anticipation notes
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The authority may:
(1) Determine the number and location of regional jails and regional juvenile detention centers, in order to prevent duplication of effort and unnecessary costs;
(2) Construct, reconstruct, improve, or repair any jail and appurtenant facilities in any local government in this state, as may be determined by the authority and provided for in an agreement or agreements;
(3) Acquire and convey real estate and any improvements and buildings and facilities located thereon, for which a project is undertaken, and in the manner and under the terms as may be provided by agreement;
(4) Issue revenue bonds, and revenue bond anticipation notes of the authority payable solely from the revenues, rentals, and other funds pledged for their payment, for the purpose of paying any part of the cost of any one (1) or more projects, and to refund any of its bonds;
(5) Combine for financing purpose any two (2) or more projects;
(6) Lease as lessor any project to any local government as lessee, pursuant to the terms and provisions of a lease;
(7) Employ consulting engineers, attorneys, accountants, construction and financial experts, managers, and other employees and agents necessary in the judgment of the authority, and to fix their compensation;
(8) Make and enter into the contracts and agreements with other parties necessary and incidental to the performance of its duties and execution of its powers under KRS
441.625 to 441.695;
(9) Establish and enforce rules, regulations, and specifications in respect to any project undertaken by the authority, except during any period when the powers are assigned to a lessee pursuant to a lease agreement. The rules, regulations, and specifications shall be consistent with state laws and regulations pertaining to jails;
(10) Receive, accept, and expend funds or other contributions from any source, both public and private, for or in aid of any project undertaken by the authority;
(11) Create and establish a “debt service reserve” pursuant to proceedings and trust indenture of the authority;
(12) Make matching fund grants not exceeding fifty thousand dollars ($50,000) to local governments from funds determined by the authority to be available to it for the purposes, upon the terms and according to the criteria the authority shall in its discretion determine; and
(13) Do all things and perform all acts desirable, necessary, and proper to carry out and implement the powers expressly granted to the authority by KRS § 441.625 to KRS
441.695, including recommending the promulgation of administrative regulations and enactment of legislation.
Effective: July 14, 1992
History: Amended 1992 Ky. Acts ch. 262, sec. 6, effective July 14, 1992. — Amended
1984 Ky. Acts ch. 415, sec. 6, effective July 13, 1984. — Created 1982 Ky. Acts ch.
235, sec. 5, effective July 15, 1982.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, H, 5, c, (2) at 1687.
(1) Determine the number and location of regional jails and regional juvenile detention centers, in order to prevent duplication of effort and unnecessary costs;
Terms Used In Kentucky Statutes 441.625
- branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
- 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
- real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(2) Construct, reconstruct, improve, or repair any jail and appurtenant facilities in any local government in this state, as may be determined by the authority and provided for in an agreement or agreements;
(3) Acquire and convey real estate and any improvements and buildings and facilities located thereon, for which a project is undertaken, and in the manner and under the terms as may be provided by agreement;
(4) Issue revenue bonds, and revenue bond anticipation notes of the authority payable solely from the revenues, rentals, and other funds pledged for their payment, for the purpose of paying any part of the cost of any one (1) or more projects, and to refund any of its bonds;
(5) Combine for financing purpose any two (2) or more projects;
(6) Lease as lessor any project to any local government as lessee, pursuant to the terms and provisions of a lease;
(7) Employ consulting engineers, attorneys, accountants, construction and financial experts, managers, and other employees and agents necessary in the judgment of the authority, and to fix their compensation;
(8) Make and enter into the contracts and agreements with other parties necessary and incidental to the performance of its duties and execution of its powers under KRS
441.625 to 441.695;
(9) Establish and enforce rules, regulations, and specifications in respect to any project undertaken by the authority, except during any period when the powers are assigned to a lessee pursuant to a lease agreement. The rules, regulations, and specifications shall be consistent with state laws and regulations pertaining to jails;
(10) Receive, accept, and expend funds or other contributions from any source, both public and private, for or in aid of any project undertaken by the authority;
(11) Create and establish a “debt service reserve” pursuant to proceedings and trust indenture of the authority;
(12) Make matching fund grants not exceeding fifty thousand dollars ($50,000) to local governments from funds determined by the authority to be available to it for the purposes, upon the terms and according to the criteria the authority shall in its discretion determine; and
(13) Do all things and perform all acts desirable, necessary, and proper to carry out and implement the powers expressly granted to the authority by KRS § 441.625 to KRS
441.695, including recommending the promulgation of administrative regulations and enactment of legislation.
Effective: July 14, 1992
History: Amended 1992 Ky. Acts ch. 262, sec. 6, effective July 14, 1992. — Amended
1984 Ky. Acts ch. 415, sec. 6, effective July 13, 1984. — Created 1982 Ky. Acts ch.
235, sec. 5, effective July 15, 1982.
2022-2024 Budget Reference. See State/Executive Branch Budget, 2022 Ky. Acts ch.
199, Pt. I, H, 5, c, (2) at 1687.