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67A.926 Occupational license tax levy to retire bonds.

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67A.926 Occupational license tax levy to retire bonds. In order to accomplish its purposes the authority, through its board, may request the <br>legislative body of the urban-county government in which it is located to levy an <br>occupational license tax on all businesses, commercial establishments, and professional <br>offices within the local parking district at a rate, which, when calculated in connection <br>with other revenues of the authority, shall not exceed the amount necessary to amortize <br>any bonds issued or proposed to be issued to finance the project or projects proposed by <br>the authority, plus operating expenses of the authority. All occupational license taxes <br>authorized by this chapter shall be collected in the same manner as are all other <br>occupational license taxes and shall be turned over to the board of commissioners as the <br>governing body of the authority. Such taxes shall be solely for the benefit and purposes of <br>the authority and shall be in addition to all other taxes. The local legislative body may <br>levy the occupational license tax so requested initially and from year to year thereafter if <br>required in conjunction with other revenues, to amortize any bonds issued or proposed for <br>a project not disapproved under the authority of this chapter. Effective: June 19, 1976 <br>History: Created 1976 Ky. Acts ch. 287, sec. 17, effective June 19, 1976.