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KRS 107.470

Power to borrow money -- Pledge of taxes or anticipated income

Known as the Kentucky Privatization Act

The act spans §§ 107–107 (57 sections).

History: Created 1970 Ky

The district may borrow money from any source on its own credit in anticipation of revenue to be derived from taxes or other income, and for such purposes the district may pledge the taxes or other income anticipated, subject to constitutional limitations. The district may enter into contracts with governmental units for the initiation of projects deemed to benefit such units, or which will be leased to such units, and such units may appropriate or advance funds to the district for its expenses, including general expenses of operation related thereto.

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