Kentucky Revised Statutes Title IX. Counties, Cities, and Other Local Units § 65.684.Powers of city or county for economic development

(1) Create development areas and to define their boundaries;

(2) Undertake projects;

(3) Issue increment bonds and pledge increments to the payment of debt charges on those increment bonds;

(4) Create a special fund established for the deposit of increments and other funds that may be used or pledged for the payment of increment bonds and to pay the costs of projects;

(5) Utilize increments to pay the costs of economic development projects and for the payment of amounts due on increment bonds; and

(6) Impose assessments.