The General Assembly finds and declares that economic development created by the development of projects to support economic revitalization and improvement in a development area which results in the increase in the value of property located in a development area or results in increased employment opportunities within or around a development area serves a public purpose; and that the authority prescribed by KRS
65.680 to 65.699 and the purposes to be accomplished thereunder, are proper governmental and public purposes for which public moneys may be expended; and that the creation or expansion of development areas is of paramount importance mandating that the provisions of KRS § 65.680 to KRS § 65.699 be liberally construed and applied in order to advance public purposes.
Effective: July 15, 2002
History: Amended 2002 Ky. Acts ch. 338, sec. 4, effective July 15, 2002. — Created
2000 Ky. Acts ch. 358, sec. 2, effective July 14, 2000.