<br><br> <br>Page 1 of 1 <br>65.692 Permitted purposes for bond issuance. <br>(1) Increment bonds may be issued to pay the costs of projects in the development area. <br>The provisions of KRS 66.021, 66.031, 66.041, 66.045, 66.071, 66.091, 66.121, <br>66.131, 66.141, 66.151, 66.171, 66.181, and 66.191 shall apply to the issuance of <br>increment bonds insofar as they do not conflict with KRS 65.680 to 65.699; if they <br>do conflict, KRS 65.680 to 65.699 shall apply. <br>(2) Debt payments on increment bonds may be paid from increments, from any other <br>funds of the issuer, or from funds identified in a grant contract, or any combination <br>thereof. If increment bonds are payable solely from increments, the issuer shall, <br>prior to the issuance of the increment bonds, make a determination that the <br>increments are adequate to make the debt payments so long as the increment bonds <br>are outstanding. <br>(3) Increment bonds may also be issued to fund or refund all or any portion of <br>outstanding increment bonds. Any increment bonds issued under this subsection <br>shall mature as determined by the governing body consistent with the definition of <br>termination date as contained in KRS 65.680 and 66.091. <br>Effective: July 15, 2002 <br>History: Amended 2002 Ky. Acts ch. 338, sec. 11, effective July 15, 2002. -- Created <br>2000 Ky. Acts ch. 358, sec. 7, effective July 14, 2000. <br><br>