147A.032 Industrial revenue bond information clearinghouse.

247 words·~1 min read·/ky/chapter-147a/147a-032

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

(1)As used in this section, "department" means the Department for Local Government.

(2)The department may, to the extent resources are available, establish an industrial

revenue bond information clearinghouse to serve as a central statewide point of

contact for the dissemination of information and guidance relating to the issuance

and use of industrial revenue bonds by units of local government.

(3)The clearinghouse shall collect and disseminate information and guidance that may

be adopted by units of local government seeking to issue industrial revenue bonds,

including:

(a)Identification of best practices;

(b)Model ordinances and resolutions;

(c)Proper issuance procedures;

(d)Examples of possible uses of industrial revenue bond proceeds; and

(e)Other model guidelines.

(4)Information provided through the clearinghouse shall be published on a Web site

that is accessible to the general public to assist private sector businesses, nonprofit

organizations, and others that may benefit from the issuance of industrial revenue

bonds.

(5)The Finance and Administration Cabinet, the Cabinet for Economic Development,

and the Energy and Environment Cabinet shall assist the department, as needed, in

the development of the clearinghouse, to ensure the most complete, accurate, and

current information relating to the issuance and possible uses of industrial revenue

bonds is available on the Web site.

(6)After the initial development of the clearinghouse is complete, and for as long as it

is available, a link to the Web site shall be made available on the one-stop business

portal established in KRS 14.250.