175.640 Legislative findings. - Kentucky Statutes

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