441.625 General powers of authority -- Authorization for revenue bonds and

418 words·~2 min read·/ky/441-625

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

revenue bond anticipation notes. The authority may:

(1)Determine the number and location of regional jails and regional juvenile detention

centers, in order to prevent duplication of effort and unnecessary costs;

(2)Construct, reconstruct, improve, or repair any jail and appurtenant facilities in any

local government in this state, as may be determined by the authority and provided

for in an agreement or agreements;

(3)Acquire and convey real estate and any improvements and buildings and facilities

located thereon, for which a project is undertaken, and in the manner and under the

terms as may be provided by agreement;

(4)Issue revenue bonds, and revenue bond anticipation notes of the authority payable

solely from the revenues, rentals, and other funds pledged for their payment, for the

purpose of paying any part of the cost of any one

(1)or more projects, and to refund

any of its bonds;

(5)Combine for financing purpose any two

(2)or more projects;

(6)Lease as lessor any project to any local government as lessee, pursuant to the terms

and provisions of a lease;

(7)Employ consulting engineers, attorneys, accountants, construction and financial

experts, managers, and other employees and agents necessary in the judgment of the

authority, and to fix their compensation;

(8)Make and enter into the contracts and agreements with other parties necessary and

incidental to the performance of its duties and execution of its powers under KRS

441.625 to 441.695;

(9)Establish and enforce rules, regulations, and specifications in respect to any project

undertaken by the authority, except during any period when the powers are assigned

to a lessee pursuant to a lease agreement. The rules, regulations, and specifications

shall be consistent with state laws and regulations pertaining to jails;

(10)Receive, accept, and expend funds or other contributions from any source, both

public and private, for or in aid of any project undertaken by the authority;

(11)Create and establish a "debt service reserve" pursuant to proceedings and trust

indenture of the authority;

(12)Make matching fund grants not exceeding fifty thousand dollars ($50,000) to local

governments from funds determined by the authority to be available to it for the

purposes, upon the terms and according to the criteria the authority shall in its

discretion determine; and

(13)Do all things and perform all acts desirable, necessary, and proper to carry out and

implement the powers expressly granted to the authority by KRS 441.625 to KRS

441.695, including recommending the promulgation of administrative regulations

and enactment of legislation.