65.940 Definitions for KRS 65.942 to 65.956.

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Page 1 of 2 65.940 Definitions for KRS 65.942 to 65.956. As used in KRS 65.942 to 65.956, unless the context otherwise requires: <br>(1) &quot;Acquire&quot; means to purchase, install, equip, or improve personal property or real property pursuant to KRS 65.942 to 65.956. (2) &quot;City&quot; means any municipal corporation of any class incorporated in the Commonwealth. (3) &quot;Construct&quot; means building reconstruction, replacement, extension, repairing, betterment, development, equipment, embellishment, or improvement. (4) &quot;County&quot; means a political subdivision of the Commonwealth created and established by the laws of the Commonwealth. (5) &quot;Governmental agency&quot; means any county, urban-county government, consolidated local government, city, taxing district, special district, school district, or other <br>political subdivision of the Commonwealth or body corporate or politic or any <br>instrumentality of the foregoing. (6) &quot;Governing body&quot; means the board, council, commission, fiscal court, or other body or group that is authorized by law to acquire property for each respective <br>governmental agency. (7) &quot;Lease&quot; means a lease, lease-purchase, lease with option to purchase, installment sale agreement, or other similar agreement entered into pursuant to KRS 65.942 to <br>65.956. (8) &quot;Lease price&quot; means the total of amounts designated as payments of principal under a lease. (9) &quot;Net interest cost&quot; means the total of all interest to accrue and fall due through the last payment due date on a lease, plus any discount or minus any premium included <br>in the lease price. (10) &quot;Person&quot; means any individual, corporation, organization, government or governmental subdivision, or agency, business trust, estate, trust, partnership, <br>association, and any other legal entity. (11) &quot;Personal property&quot; means personal property, appliances, equipment, or furnishings, or an interest therein, whether movable or fixed, deemed by the governing body of a <br>governmental agency to be necessary, useful, or appropriate to one (1) or more <br>purposes of the governmental agency, but shall not include real property. (12) &quot;Real property&quot; means land, buildings, fixtures, and interests in real property, deemed by the governing body of the governmental agency to be necessary, useful, <br>or appropriate to one (1) or more purposes of the governmental agency. (13) &quot;Revenue&quot; means all funds received by a governmental agency which are not taxes, including but not limited to excises, transfers, service fees, assessments, and <br>occupational license fees. (14) &quot;School district&quot; means any county school district or independent school district organized and existing pursuant to the laws of the Commonwealth. (15) &quot;Special district&quot; means any agency, authority, or political subdivision of the Commonwealth which exercises less than statewide jurisdiction and which is Page 2 of 2 organized for the purpose of performing governmental or other prescribed functions <br>within limited boundaries. It includes all political subdivisions of the <br>Commonwealth except a city, county, or school district. (16) &quot;State local debt officer&quot; means the officer so designated in KRS 66.045. <br>(17) &quot;Taxes&quot; means taxes properly levied upon real or personal property. <br>(18) &quot;Taxing district&quot; means any taxing district created under KRS 65.180 to 65.190. Effective: July 15, 2002 <br>History: Amended 2002 Ky. Acts ch. 346, sec. 36, effective July 15, 2002. -- Amended 1994 Ky. Acts ch. 508, sec. 24, effective July 15, 1994. -- Created 1990 Ky. Acts <br>ch. 81, sec. 1, effective July 13, 1990.