(A) For the purposes of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
ACT. KRS 65.7041 to 65.7083.
AGENCY. The Finance Department of the County of Boone, Kentucky.
AGREEMENT. The Dixie Highway Local Development Area No. 2 Agreement among the
county, the Agency and the developer attached as Exhibit "B" to Ordinance 2021-18.
ESTABLISHMENT DATE. The date that the Dixie Highway Local Development Area No. 2 is established pursuant to the Act and this chapter.
FINANCING COSTS. Principal, interest, costs of issuance, debt service reserve requirements, underwriting discount, costs of credit enhancement or liquidity instruments, and other costs directly related to the issuance of bonds or debt for redevelopment assistance and project costs.
INCREMENTAL REVENUES. The amount of revenues received by the county with respect to the Dixie Highway Local Development Area No. 2 by subtracting old revenues from new revenues in a calendar year and more specifically defined in the Agreement.
PLEDGED REVENUES. That portion of the incremental revenues which are pledged by the county pursuant to the Dixie Highway Local Development Area No. 2 Agreement, to pay for redevelopment assistance and related to the Dixie Highway Local Development Area No. 2, as set forth in the Agreement.
PUBLIC INFRASTRUCTURE COSTS. Those costs as defined in the Agreement that are eligible to be paid for or reimbursed by incremental revenues.
(B) All terms used herein and not defined above or in the recitals to Ordinance 2021-18 shall have the meaning as set forth in the Act, as of the effective date of this chapter.
(Ord. 2021-18, passed 6-8-21)