Except as hereinafter provided in this section, when all bonds issued under the provisions of this chapter in connection with any turnpike project or projects and the interest thereon shall have been paid or a sufficient amount for the payment of all such bonds and the interest thereon to the maturity thereof shall have been set aside in trust for the benefit of the bondholders, such project or projects, if then in good condition and repair, shall be conveyed by the authority to the Commonwealth and shall become part of the state highway system and shall thereafter be maintained by the department free of tolls; provided, however, that the department may, in any proceedings or trust indenture authorizing or securing bonds under the provisions of this chapter, provide for combining for financing purposes any two (2) or more turnpike projects theretofore constructed or thereafter to be constructed, and for the reimposition or continuance of tolls on each such turnpike project until all such bonds and the interest thereon shall have been paid or a sufficient amount for such purposes shall have been set aside in trust for the benefit of the bondholders.
Effective: March 25, 1960

Terms Used In Kentucky Statutes 175.610

  • authority: shall mean the Turnpike Authority of Kentucky. See Kentucky Statutes 175.410
  • Continuance: Putting off of a hearing ot trial until a later time.
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
  • turnpike project: shall mean any express highway or superhighway or such part or parts thereof as may be constructed by the authority under the provisions of this chapter, including all bridges, tunnels, overpasses, underpasses, interchanges, entrance plazas, approaches, connecting highways, tollhouses, service stations, garages, restaurants, and administration, storage and other buildings and facilities which the authority may deem necessary for the operation of such project, together with all property, rights, easements and interests which may be acquired by the authority or by the department for the construction or the operation of such project. See Kentucky Statutes 175.410

History: Created 1960 Ky. Acts ch. 173, sec. 21, effective March 25, 1960.

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