107.750 Construction of KRS 107.720 to 107.760 -- Issuance of bonds authorized. - Kentucky Statutes

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107.750 Construction of KRS 107.720 to 107.760 -- Issuance of bonds authorized. (1) KRS 107.720 to 107.760 shall be construed liberally to effect its purposes and shall not be construed as a restriction or limitation upon any powers which any political
subdivision, private owner or private owner/operator might otherwise have under
any laws of the Commonwealth; and the provisions of KRS 107.720 to 107.760 are
cumulative to any such powers. KRS 107.720 to 107.760 does and shall be
construed to provide a complete, additional and alternative method for the doing of
the things authorized thereby and shall be regarded as supplemental and additional
to other laws. (2) Any city, county or urban-county may issue negotiable revenue bonds pursuant to KRS 103.200 et seq. in order to finance the costs associated with a privatization
project entered into pursuant to KRS 107.720 to 107.760. (3) Bonds issued pursuant to KRS 107.720 to 107.760 do not constitute a debt or liability of this Commonwealth or of any legislative body, or any other political
subdivision of the Commonwealth. Those bonds do not constitute the loaning of the
credit of the Commonwealth or of any legislative body, or of any other political
subdivision of the Commonwealth. Effective: July 15, 1986
History: Created 1986 Ky. Acts ch. 456, sec. 6, effective July 15, 1986.