(1) No transit authority established or created under and pursuant to this chapter shall be vested with any power to levy taxes of any nature or in any amount.
(2) The governing body of any public body participating in the creation and establishment of an authority, or in the subsequent enlargement thereof, may, in the proceedings or joint proceedings, or by subsequent action, appropriate and pay over to an authority from its general funds or from other resources not required by law to be appropriated for other purposes, any sum or sums of money, or any property which such public body shall determine to be necessary or advisable in furtherance of the public purposes of the authority as set forth in this chapter. An authority may receive moneys or property from any such source, and may use the same in furtherance of its proper purposes; but an authority shall not pledge anticipated appropriations from any such source for any period beyond the period for which any such appropriations shall be made, except to the extent of committing that any such appropriation, when and if actually received by the authority, without commitment as to the possible amount thereof, will be applied by the authority in certain specified ways.
(3) An authority may accept gifts, grants, or loans of money or other property from the United States, the state or any person or entity for such purposes, may enter into any agreement required in connection therewith, may comply with any federal or state laws or regulations applicable thereto, and may hold, use, and dispose of such money or property in accordance with the terms of the gift, grant, loan, or agreement relating thereto.
History: Created 1970 Ky. Acts ch. 243, sec. 10.