224A.040 Construction or acquisition of infrastructure projects or improvement of
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/ky/224a-040A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
public drinking water and wastewater systems. The authority may, pursuant to the terms, conditions, restrictions and requirements of this chapter, assist with the construction or acquisition of infrastructure projects or with the improvement of the technical, managerial, or operational capacity of public drinking water and wastewater systems by:
(1)Leasing an infrastructure project;
(2)Making loans or grants as funds are available, to any governmental agency; or
(3)Purchasing obligations of a governmental agency, provided that any financial
assistance supplied to the governmental agency, as defined in KRS 224A.011, will
not cause the interest on current or future state agency or authority obligations, if
excludable from gross income for federal tax purposes, to be included in gross
income for federal tax purposes.