The annual improvement assessment for each project shall be levied by the governing body when the levy for general urban-county taxes is made; and such improvement assessment levy shall be due at the same time, or times, when the general urban-county government taxes are due, and shall be subject to the same penalties and accrual of interest in the event of nonpayment as in the case of such general taxes unless the bond interest rate is greater, in which case, it shall apply.
Effective: June 21, 1974

Terms Used In Kentucky Statutes 67A.790

  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Project: means any undertaking within or near a local parking district. See Kentucky Statutes 67A.912

History: Created 1974 Ky. Acts ch. 394, sec. 17, effective June 21, 1974.

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