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175.640 Legislative findings.

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175.640 Legislative findings. The General Assembly of the Commonwealth of Kentucky determines as a legislative <br>finding of fact that the economy of the Commonwealth is, to a major degree, dependent <br>upon the severance and production of coal, which is the most abundant and valuable <br>mineral resource of Kentucky; that there is a serious shortage of transportation facilities <br>for the transportation of coal from mines to market; that many of the roads, bridges and <br>highways situated in the coal-producing areas of the Commonwealth are obsolete and <br>inadequate for the uses to which they are subjected, and have, in many cases deteriorated <br>to the point where their use is hazardous and represents a potential threat to the safety and <br>welfare of the traveling public; and that the shortage of modern, heavy-duty road systems <br>in such areas is seriously retarding the continued economic growth of the <br>Commonwealth. The General Assembly of the Commonwealth of Kentucky further <br>determines as a legislative finding of fact that the construction and financing of resource <br>recovery roads through the Turnpike Authority of Kentucky utilizing coal severance tax <br>allocations for the amortization of resource recovery road revenue bonds issued to <br>provide funds to construct such roads will preserve and enhance the economic viability of <br>the Commonwealth, will protect and enhance the safety, health, convenience and general <br>welfare of the traveling public, and will therefore constitute the performance of essential <br>governmental and public purposes. History: Created 1976 Ky. Acts ch. 259, sec. 1.