Statutes > Kentucky Statutes > CHAPTER 175 TURNPIKE AUTHORITY > 175.790 Bonds secured solely by revenues derived from leasing project to cabinet -- Tolls prohibited.

175.790 Bonds secured solely by revenues derived from leasing project to cabinet -- Tolls prohibited.

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175.790 Bonds secured solely by revenues derived from leasing project to cabinet -- Tolls prohibited. In the event that the authority and the cabinet shall undertake the planning and financing <br>of any economic development road project, it shall be provided in connection with such <br>financing that economic development road revenue bonds or notes issued in respect of <br>any such project shall be secured solely by income and revenues derived from the leasing <br>by the authority of any such project to the cabinet, and no tolls shall be imposed or <br>charged for the use by the traveling public of any such projects or for amortization of the <br>bonds or notes; provided that notes may be issued in anticipation of the issuance of bonds <br>or renewal notes and be made payable from the proceeds thereof. Effective: July 15, 1980 <br>History: Created 1980 Ky. Acts ch. 393, sec. 5, effective July 15, 1980.