Kentucky Statutes 65.580 – City or county may appropriate funds or levy tax for use of riverport authority
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In order to provide money for the costs of administration, operation, maintenance, and development and for the purchase, lease, option, or holding of property, or rights therein, necessary or proper for the purposes contemplated in KRS § 65.510 to KRS § 65.650, the legislative body of any governmental unit creating the riverport authority under KRS
65.510 to 65.650 may annually appropriate funds to the authority; or such governmental unit may make an annual levy to collect a tax on taxable property situated in the governmental unit for such riverport development. Any appropriation shall be made by the legislative body in such amounts, in such proportion and upon such terms as the legislative body may determine. All funds derived from such appropriation or tax shall be turned over to the riverport authority for the purpose of carrying out the duties and powers of the authority.
History: Amended 1968 Ky. Acts ch. 118, sec. 6. — Created 1964 Ky. Acts ch. 48, sec.
4.
65.510 to 65.650 may annually appropriate funds to the authority; or such governmental unit may make an annual levy to collect a tax on taxable property situated in the governmental unit for such riverport development. Any appropriation shall be made by the legislative body in such amounts, in such proportion and upon such terms as the legislative body may determine. All funds derived from such appropriation or tax shall be turned over to the riverport authority for the purpose of carrying out the duties and powers of the authority.
Terms Used In Kentucky Statutes 65.580
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Appropriation: means an authorization by the General Assembly to expend, from public funds, a sum of money not in excess of the sum specified, for the purposes specified in the authorization and under the procedure prescribed in KRS Chapter 48. See Kentucky Statutes 446.010
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
History: Amended 1968 Ky. Acts ch. 118, sec. 6. — Created 1964 Ky. Acts ch. 48, sec.
4.