Project revenue bonds issued by an authority under this chapter shall be securities in which all public officers and public bodies of the Commonwealth and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, trustees and other fiduciaries, and all other persons who are authorized to invest in bonds or other similar obligations, including capital in their control or belonging to them, are authorized to invest. The project revenue bonds shall be securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the Commonwealth for any purpose for which the deposit of bonds or other obligations of the Commonwealth is now or may hereafter be authorized by law.
Effective: June 26, 2009

Terms Used In Kentucky Statutes 175B.085

  • Authority: means the state authority, or a bi-state authority, or a project authority, unless the specific use requires that it apply only to the state authority, or a bi-state authority, or a project authority. See Kentucky Statutes 175B.010
  • Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 175B.010
  • Project: includes all bridges, tollhouses, garages, and other buildings and facilities which the authority deems necessary for the operation of the project, together with all property, rights, easements, and interests which may be acquired by the authority or by the Commonwealth for the construction and operation of a project. See Kentucky Statutes 175B.010
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010

History: Created 2009 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 91, effective June 26,
2009.

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