In order to provide money for the purchase of property necessary to develop industrial sites, parks and subdivisions, the city may make annual appropriations from the general fund for such development and may restrict these funds for specific projects. The Corporation may borrow money and issue notes and other financial instruments on its own credit. The Corporation the appropriation or income anticipated, for the industrial sites, parks and subdivisions or both, as security for its debt. The Corporation is authorized to defray the costs of acquiring and developing industrial sites, parks and subdivisions through the issuance of revenue bonds, issued under the terms, conditions and procedures set forth in KRS 103.200 to 103.285.
(Ord. 0-2017-23, passed 7-24-17)