KRS § 175.450 — KY Code / Title XV / Chapter 175 / Section 175.450
175.450 General powers of authority as to turnpike projects
Status: in_force

175.450 General powers of authority as to turnpike projects.

The authority is hereby authorized and empowered:

(1) To construct, reconstruct, maintain, repair, operate, and regulate turnpike projects at

such locations within the Commonwealth as may be determined by the authority

and the department and provided for in an agreement or agreements;

(2) To acquire sites abutting on any turnpike project, as a part of such project, and to

construct or contract for the construction of buildings and appurtenances for service

stations, garages, restaurants and other services and to lease the same to parties

other than the department for any of such purposes (or, if leases to such parties

cannot be made on acceptable terms, to operate or to lease to the department any or

all of the same) in such manner and under such terms as may be provided in an

agreement;

(3) To issue turnpike revenue bonds of the authority payable solely from the tolls,

revenues, rentals and other funds pledged for their payment, for the purpose of

paying all or any part of the cost of any one or more turnpike projects, and to refund

any of its bonds;

(4) To fix and revise from time to time and charge and collect tolls for transit over each

turnpike project constructed by it, except to the extent that such powers are

surrendered to the department pursuant to a lease;

(5) To combine for financing purposes any two (2) or more turnpike projects;

(6) To lease as lessor any turnpike project or projects to the department as lessee,

pursuant to the terms and provisions of a lease;

(7) To establish and enforce rules and regulations for the use of any turnpike project,

except during any period when such powers are provided to be exercised by the

department pursuant to a lease;

(8) Without reference to KRS Chapter 56, to acquire and hold in the name of the

authority real and personal property in the exercise of its powers and the

performance of its functions and duties under this chapter, and to dispose of the

same, with the approval of the department;

(9) To designate the locations and establish, limit and control such points of ingress to

and egress from each turnpike project as the authority and the department may

determine to be necessary or desirable to insure the proper operation and

maintenance of such project, and to prohibit entrance to such project from any point

or points not so designated;

(10) To make and enter into such contracts and agreements with the department and

other parties as may be necessary or incidental to the performance of its duties and

the execution of its powers under this chapter;

(11) To employ consulting engineers, attorneys, accountants, construction and financial

experts, superintendents, managers, and such other employees and agents as may be

necessary in the judgment of the authority, and to fix their compensation;

(12) To receive and accept from the Commonwealth, the department, and any federal

agency, grants for or in aid of the construction of any turnpike project, and to

receive and accept aid or contributions from any source of either money, property,

labor or other things of value, to be held, used and applied only for the purposes for

which such grants and contributions may be made;

(13) To expend any funds provided under the authority of this chapter in advertising the

facilities and services of a turnpike project or projects to the traveling public; and

(14) To do all acts and things necessary or convenient to carry out the powers expressly

granted in this chapter.