For the purpose of defraying the cost of acquiring, constructing, maintaining, expanding, financing or improving any airport facilities or air navigation facilities, or any part thereof or interest therein, or contract for services therefrom the cabinet may, with the approval of the Governor, borrow money and issue negotiable bonds. A governmental unit may borrow money and issue negotiable bonds, for the same purposes, but only after an ordinance or resolution has been adopted by the legislative body specifying the proposed undertaking, the amount of bonds to be issued and the maximum rate of interest the bonds are to bear. The ordinance or resolution shall further provide that the revenue bonds are to be issued pursuant to the provisions of KRS 183.630 to 183.740.
KRS 183.630
Governmental unit may issue revenue bonds for airport purposes
Applied in 5 court decisions — leading case Comair, Inc. v. Lexington-Fayette Urban County Airport Corp. (2009)
Most recently applied in Comair, Inc. v. Lexington-Fayette Urban County Airport Corp. (October 2009)
History: Amended 1968 Ky
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.