103.240 Use of proceeds of bonds. All money received from the sale of the bonds shall be applied solely for: (1) The acquisition of the industrial building and: (a) Any utilities; (b) Pollution control structures or equipment; (c) Equipment or technologies employed to increase the energy efficiency of manufacturing facilities; or (d) Other equipment requisite to the use of these assets; (2) The acquisition of pollution control facilities and the structures or equipment requisite to the use thereof; (3) The necessary expense of preparing, printing, and selling said bonds; (4) The refunding of any issued and outstanding bonds whether matured or otherwise; (5) Providing a debt service reserve fund or any other reserve funds, if necessary; (6) To advance the payment of interest on the bonds during any portion of the first three (3) years following the date of the bonds; or (7) To pay working capital expenditures. Effective: April 9, 2024 History: Amended 2024 Ky. Acts ch. 128, sec. 1, effective April 9, 2024. -- Amended 2014 Ky. Acts ch. 131, sec. 5, effective July 15, 2014. -- Amended 1984 Ky. Acts ch. 122, sec. 5, effective July 13, 1984. -- Amended 1970 Ky. Act s ch. 64, sec. 5. ffective April 9, 2024. -- Amended 2014 Ky. Acts ch. 131, sec. 5, effective July 15, 2014. -- Amended 1984 Ky. Acts ch. 122, sec. 5, effective July 13, 1984. -- Amended 1970 Ky. Act s ch. 64, sec. 5. -- Amended 1966 Ky. Acts ch. 119, sec. 2(1). -- Created 1946 Ky. Acts ch. 58, sec. 5.
Kentucky Legal Code