(1) An application from an historical site or from a tourist area or attraction for the erection of a limited supplemental guide sign shall be made to the commissioner of the Department of Highways. The application shall include, but not be limited to:
(a) Evidence that demonstrates the average annual attendance;
(b) Evidence that the tourist area or attraction is established as a permanent business; and (c) Evidence that the tourist area or attraction has all necessary and proper licenses, that normal business hours shall be maintained, that it is open to the traveling public, and that it provides recreational or educational opportunities.
(2) An application fee of two hundred dollars ($200) shall be paid to the Department of Highways by each applicant.
(3) Upon approval of the application, the applicant shall reimburse the Transportation Cabinet for the total cost of the sign and its installation. The applicant shall have the option to pay the reimbursement cost in full or amortize the reimbursement cost for a period not to exceed ten (10) years.