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183.134 Appropriations for airports -- Bond issue, election, tax.
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In order to provide money for the purchase of property necessary for the
establishment or expansion of airports and to construct, equip, and maintain
buildings necessary, desirable, or appropriate for airport purposes, or to
acquire rights or interests or contracts for services, the legislative body of any
governmental unit owning in whole or part any airport or operating an airport, or
having any rights or interests in an airport or contracts for services from an
airport, may make an annual appropriation from its general fund; or the
governmental unit may make an annual levy to collect a tax on taxable property
situated in the governmental unit for airport development. Any appropriation
shall be made by the legislative body in amounts, in proportion and upon terms
as the legislative body may determine. All funds derived from an appropriation
or tax shall be turned over to the airport board, if any, for the purpose of
carrying out the duties and powers of the board.
Whenever a governmental unit deems it necessary to acquire, construct,
maintain, expand, finance, or improve any airport facilities or air navigation
facilities or rights or interests in any facilities, or to contract for services from
the facilities, or for any or all of these purposes, and the annual funds raised
from other sources are not sufficient to accomplish the purpose, the
governmental unit shall make a careful estimate of the amount of money
required for the purpose and shall certify to the proper tax levying authority the
fact that an election for an issue of bonds for aviation purposes shall be held,
together with the amount of money for which bonds shall be issued and the
purpose to which the proceeds shall be applied. The taxing authority shall then
adopt an ordinance or resolution submitting to the qualified voters of the district
the question as to whether bonds shall be issued for the purpose. The question
shall be so framed that the voter may by his vote answer "For" or "Against."
The ordinance or resolution shall fix the time the bonds shall run and, if a serial
issue, the amount to mature at each time. It shall limit the rate of interest to be
permitted on the bonds and the total amount of bonds to be issued, and shall
provide for the levy of a tax to pay the interest and to create a sinking fund to
retire them at their maturity.
The election shall be held at a time fixed in the ordinance or resolution, not less
than fifteen (15) nor more than thirty (30) days from the time the certificate of
the governmental unit is filed with the tax levying authority, and reasonable
notice of the election shall be given. The election shall be conducted and
carried out in the governmental unit district in all respects as required by the
general election laws, and shall be held by the same officers as required by the
general election laws. The expense of the election shall be paid by the fiscal
court except where the election is held in a district embracing a city with a
population equal to or greater than one thousand (1,000) based upon the most
recent federal decennial census, in which case the cost of the election shall be
paid by the governing body of the city.
Notwithstanding the limitations contained in KRS 132.023, any governmental
unit which after March 21, 1968, levies a tax for aviation purposes under this
chapter may exclude the tax from consideration in calculating the
compensating tax rate as now or subsequently defined in KRS 132.010 or any
amendments or other act substituted relating to that section.
Effective:January 1, 2015
History: Amended 2014 Ky. Acts ch. 92, sec. 262, effective January 1, 2015. -Amended 1996 Ky. Acts ch. 274, sec. 43, effective July 15, 1996. -- Amended
1980 Ky. Acts ch. 188, sec. 137, effective July 15, 1980. -- Amended 1968 Ky.
Acts ch. 83, sec. 1. -- Amended 1964 Ky. Acts ch. 134, sec. 7. -- Created 1960
Ky. Acts ch. 179, sec. 34.
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