Kentucky Statutes 183.136 – Board may issue revenue bonds or purchase securities of other governmental agency
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(1) The board is authorized to defray the cost of acquiring, constructing, maintaining, expanding, financing or improving any airport facilities or air navigation facilities or any part thereof or interest therein, or contract for services therefrom, through the issuance of revenue bonds in the manner provided in KRS § 183.630 through
183.740, or through the purchase of securities, stocks, or bonds of any other governmental unit or body politic.
(2) The board may, as an alternative method and in addition to all other methods provided by law, acquire, construct, maintain, expand, finance or improve airports, airport facilities or air navigation facilities or any part thereof or interest therein, or contract for services therefrom, and issue revenue bonds in connection therewith under the terms and provisions of KRS Chapter 58 and under said law the term “governmental agency” means the board and any airport board or airport created pursuant to the provisions of KRS Chapter 183 as it existed prior to the enactment of Chapter 179, Acts of the General Assembly, Regular Session 1960, shall be deemed to have been established pursuant to this chapter with all of the powers, functions and duties as herein prescribed, and the term “public project” means airports and airport facilities and air navigation facilities.
History: Amended 1968 Ky. Acts ch. 83, sec. 3. — Amended 1964 Ky. Acts ch. 134, sec. 8. — Created 1960 Ky. Acts ch. 179, sec. 36.
183.740, or through the purchase of securities, stocks, or bonds of any other governmental unit or body politic.
Terms Used In Kentucky Statutes 183.136
- Contract: A legal written agreement that becomes binding when signed.
- governmental unit: means any city, or the combination of any two (2) or more thereof, or any county, urban-county government, or combination of two (2) or more such counties, city or cities, acting jointly with any county or counties or an airboard or board established as provided in this chapter. See Kentucky Statutes 183.012
(2) The board may, as an alternative method and in addition to all other methods provided by law, acquire, construct, maintain, expand, finance or improve airports, airport facilities or air navigation facilities or any part thereof or interest therein, or contract for services therefrom, and issue revenue bonds in connection therewith under the terms and provisions of KRS Chapter 58 and under said law the term “governmental agency” means the board and any airport board or airport created pursuant to the provisions of KRS Chapter 183 as it existed prior to the enactment of Chapter 179, Acts of the General Assembly, Regular Session 1960, shall be deemed to have been established pursuant to this chapter with all of the powers, functions and duties as herein prescribed, and the term “public project” means airports and airport facilities and air navigation facilities.
History: Amended 1968 Ky. Acts ch. 83, sec. 3. — Amended 1964 Ky. Acts ch. 134, sec. 8. — Created 1960 Ky. Acts ch. 179, sec. 36.