67A.926 Occupational license tax levy to retire bonds. - Kentucky Statutes

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