65.684 Powers of city or county for economic development.
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65.684 Powers of city or county for economic development.
For any development area for which increments do not include revenues from the <br>Commonwealth, in addition to any other powers conferred by law, any city or county may <br>exercise any powers necessary or convenient to carry out the purposes of KRS 65.680 to <br>65.699, including the power to: <br>(1) Create development areas and to define their boundaries; <br>(2) Undertake projects; <br>(3) Issue increment bonds and pledge increments to the payment of debt charges on
those increment bonds;
(4) Create a special fund established for the deposit of increments and other funds that
may be used or pledged for the payment of increment bonds and to pay the costs of <br>projects;
(5) Utilize increments to pay the costs of economic development projects and for the
payment of amounts due on increment bonds; and
(6) Impose assessments.
Effective: July 15, 2002 <br>History: Amended 2002 Ky. Acts ch. 338, sec. 5, effective July 15, 2002. -- Amended
2001 Ky. Acts ch. 133, sec. 6, effective June 21, 2001. -- Created 2000 Ky. Acts <br>ch. 358, sec. 3, effective July 14, 2000.
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