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KRS 103.240

Use of proceeds of bonds

Effective: April 9, 2024 History: Amended 2024 Ky

All money received from the sale of the bonds shall be applied solely for:

(1) The acquisition of the industrial building and:

(a) Any utilities;

(b) Pollution control structures or equipment;

(c) Equipment or technologies employed to increase the energy efficiency of manufacturing facilities; or (d) Other equipment requisite to the use of these assets;

(2) The acquisition of pollution control facilities and the structures or equipment requisite to the use thereof;

(3) The necessary expense of preparing, printing, and selling said bonds;

(4) The refunding of any issued and outstanding bonds whether matured or otherwise;

(5) Providing a debt service reserve fund or any other reserve funds, if necessary;

(6) To advance the payment of interest on the bonds during any portion of the first three (3) years following the date of the bonds; or (7) To pay working capital expenditures.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.