Kentucky Statutes 224A.070 – Powers
Current as of: 2024 | Check for updates
|
Other versions
The authority may carry out and perform the following essential governmental functions of statewide import and concern:
(1) To promulgate administrative regulations and adopt bylaws for the regulation of its affairs and the conduct of its business, which shall define with specificity conditions precedent under which applications for loans or grants may be made and the order of priority upon which applications shall be acted upon;
(2) To retain an executive director, who shall be experienced and knowledgeable in the fields in which the authority may act, together with other employees, including for example only, engineers, accountants, and attorneys, necessary and appropriate to enable the authority to fulfill its duties, functions, and responsibilities;
(3) To adopt a corporate seal;
(4) To sue and be sued in its own name and to have the right, power, and authority to enforce its obligations and covenants made pursuant to the provisions of this chapter;
(5) To levy a tax on every purchase of water service and sewer service in the state, such tax to be equal to not more than two percent (2%) of the gross amount of the bill for water services rendered;
(6) To approve or reject applications made to the authority for loans or grants;
(7) To lease an infrastructure project or make loans or grants to or purchase or refinance obligations of any governmental agency for the purpose of assisting the governmental agency in the construction of an infrastructure project. A lease, loan, or grant shall be in accordance with the terms and conditions of an assistance agreement by and between the authority and the governmental agency, which shall include the provisions and conditions specified in KRS § 224A.100, and such other reasonable terms and conditions as the authority shall determine;
(8) Without reference to the provisions of KRS Chapter 56, to acquire and hold in the name of the authority, by the exercise of the power of eminent domain pursuant to the Eminent Domain Act of Kentucky, the real property or rights therein, including rights-of-way, easements and licenses, and the personal property reasonably deemed necessary to effectuate the development, implementation, financing, and construction or acquisition of any infrastructure project, and to make the properties available to a governmental agency in connection with an infrastructure project;
(9) To receive service charges from governmental agencies which have entered into assistance agreements with the authority, in accordance with the terms and conditions of the assistance agreements, and to use and employ the service charges in accordance with the provisions of this chapter, the service charges to constitute authority revenues;
(10) To enter into and enforce assistance agreements made and entered into with governmental agencies by suit, action, mandamus or other proceedings, including the obtaining by judicial decree of the appointment of a receiver to administer infrastructure projects financed by leases, loans or grants which have been undertaken by governmental agencies;
(11) To enter into any necessary or required agreement with federal or state agencies or persons to carry out the provisions of this chapter;
(12) To bid at a competitive public sale of obligations of a governmental agency or negotiate the purchase or sale of obligations of a governmental agency, notwithstanding any other law to the contrary;
(13) To borrow money and issue negotiable bonds and notes pursuant to this chapter;
(14) To lend money to governmental agencies or to advance moneys from the infrastructure revolving fund to the federally assisted wastewater revolving fund in order to match federal moneys that may become available;
(15) To contract with the federal government as to any infrastructure project;
(16) To participate with the federal government or any of its agencies, the state government or any of its agencies or political subdivisions, or any other person in the construction or repair of any infrastructure project; and
(17) To have, possess, and exercise all other powers reasonably incident to the carrying out of the duties and responsibilities of the authority.
Effective: July 14, 2000
History: Amended 2000 Ky. Acts ch. 529, sec. 17, effective July 14, 2000. — Amended
1994 Ky. Acts ch. 373, sec. 4, effective July 15, 1994. — Amended 1988 Ky. Acts ch.
124, sec. 7, effective March 31, 1988. — Amended 1984 Ky. Acts ch. 216, sec. 12, effective July 13, 1984. — Amended 1976 Ky. Acts ch. 140, sec. 95. — Created 1972
Ky. Acts ch. 329, sec. 7.
(1) To promulgate administrative regulations and adopt bylaws for the regulation of its affairs and the conduct of its business, which shall define with specificity conditions precedent under which applications for loans or grants may be made and the order of priority upon which applications shall be acted upon;
Terms Used In Kentucky Statutes 224A.070
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Assistance agreement: means the agreement to be made and entered into by and between a governmental agency or a private entity and the authority, as authorized by this chapter, providing for a lease, loan, services, or grant to a governmental agency or a private entity or for the purchase of obligations issued by the governmental agency, and for the repayment thereof to the authority by the governmental agency or a private entity. See Kentucky Statutes 224A.011
- Authority: means the Kentucky Infrastructure Authority, which is created by this chapter. See Kentucky Statutes 224A.011
- Authority revenues: means the totality of all: (a) Service charges. See Kentucky Statutes 224A.011
- Construction: means and includes but is not limited to:
(a) Preliminary planning to determine the economic and engineering feasibility of infrastructure projects, the engineering, architectural, legal, fiscal, and economic investigations, and studies necessary thereto, and surveys, designs, plans, working drawings, specifications, procedures, and other actions necessary to the construction of infrastructure or solid waste projects. See Kentucky Statutes 224A.011 - Contract: A legal written agreement that becomes binding when signed.
- Federal: refers to the United States. See Kentucky Statutes 446.010
- Federally assisted wastewater revolving fund: means that fund which will receive federal and state funds or the proceeds from the sale of revenue bonds of the authority for the purpose of providing loans to finance construction of publicly owned treatment works as defined in Section 212 of the federal act and for the implementation of a management program established under Section 319 of the federal act and for the development and implementation of a conservation and management plan under Section 320 of the federal act. See Kentucky Statutes 224A.011
- Governmental agency: means any incorporated city or municipal corporation, or other agency, or unit of government within or a department or a cabinet of the Commonwealth of Kentucky, now having or hereafter granted, the authority and power to finance, acquire, construct, or operate infrastructure or solid waste projects. See Kentucky Statutes 224A.011
- Infrastructure project: means any construction or acquisition of treatment works, facilities related to the collection, transportation, and treatment of wastewater as defined in KRS §. See Kentucky Statutes 224A.011
- Infrastructure revolving fund: means that fund which will receive state funds, the proceeds from the sale of revenue bonds of the authority or other moneys earmarked for that fund for the purpose of providing loans or grants to finance construction or acquisition of infrastructure projects as defined in this section. See Kentucky Statutes 224A.011
- 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
- Person: means any individual, firm, partnership, association, corporation, or governmental agency. See Kentucky Statutes 224A.011
- Personal property: All property that is not real property.
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: means the Commonwealth of Kentucky. See Kentucky Statutes 224A.011
- Wastewater: means any water or liquid substance containing sewage, industrial waste, or other pollutants or contaminants derived from the prior use of these waters. See Kentucky Statutes 224A.011
(2) To retain an executive director, who shall be experienced and knowledgeable in the fields in which the authority may act, together with other employees, including for example only, engineers, accountants, and attorneys, necessary and appropriate to enable the authority to fulfill its duties, functions, and responsibilities;
(3) To adopt a corporate seal;
(4) To sue and be sued in its own name and to have the right, power, and authority to enforce its obligations and covenants made pursuant to the provisions of this chapter;
(5) To levy a tax on every purchase of water service and sewer service in the state, such tax to be equal to not more than two percent (2%) of the gross amount of the bill for water services rendered;
(6) To approve or reject applications made to the authority for loans or grants;
(7) To lease an infrastructure project or make loans or grants to or purchase or refinance obligations of any governmental agency for the purpose of assisting the governmental agency in the construction of an infrastructure project. A lease, loan, or grant shall be in accordance with the terms and conditions of an assistance agreement by and between the authority and the governmental agency, which shall include the provisions and conditions specified in KRS § 224A.100, and such other reasonable terms and conditions as the authority shall determine;
(8) Without reference to the provisions of KRS Chapter 56, to acquire and hold in the name of the authority, by the exercise of the power of eminent domain pursuant to the Eminent Domain Act of Kentucky, the real property or rights therein, including rights-of-way, easements and licenses, and the personal property reasonably deemed necessary to effectuate the development, implementation, financing, and construction or acquisition of any infrastructure project, and to make the properties available to a governmental agency in connection with an infrastructure project;
(9) To receive service charges from governmental agencies which have entered into assistance agreements with the authority, in accordance with the terms and conditions of the assistance agreements, and to use and employ the service charges in accordance with the provisions of this chapter, the service charges to constitute authority revenues;
(10) To enter into and enforce assistance agreements made and entered into with governmental agencies by suit, action, mandamus or other proceedings, including the obtaining by judicial decree of the appointment of a receiver to administer infrastructure projects financed by leases, loans or grants which have been undertaken by governmental agencies;
(11) To enter into any necessary or required agreement with federal or state agencies or persons to carry out the provisions of this chapter;
(12) To bid at a competitive public sale of obligations of a governmental agency or negotiate the purchase or sale of obligations of a governmental agency, notwithstanding any other law to the contrary;
(13) To borrow money and issue negotiable bonds and notes pursuant to this chapter;
(14) To lend money to governmental agencies or to advance moneys from the infrastructure revolving fund to the federally assisted wastewater revolving fund in order to match federal moneys that may become available;
(15) To contract with the federal government as to any infrastructure project;
(16) To participate with the federal government or any of its agencies, the state government or any of its agencies or political subdivisions, or any other person in the construction or repair of any infrastructure project; and
(17) To have, possess, and exercise all other powers reasonably incident to the carrying out of the duties and responsibilities of the authority.
Effective: July 14, 2000
History: Amended 2000 Ky. Acts ch. 529, sec. 17, effective July 14, 2000. — Amended
1994 Ky. Acts ch. 373, sec. 4, effective July 15, 1994. — Amended 1988 Ky. Acts ch.
124, sec. 7, effective March 31, 1988. — Amended 1984 Ky. Acts ch. 216, sec. 12, effective July 13, 1984. — Amended 1976 Ky. Acts ch. 140, sec. 95. — Created 1972
Ky. Acts ch. 329, sec. 7.