KRS 132.023 — Limits for special purpose governmental entities -- Procedure for exceeding limits

(1) No special purpose governmental entity shall levy a tax rate which exceeds the
compensating tax rate until the taxing district has complied with the provi sions of
KRS 65A.110 and subsection (2) of this section.
(2) (a) A special purpose governmental entity proposing to levy a tax rate which
exceeds the compensating tax rate shall submit the proposed rate as required
by KRS 65A.110 and shall hold a public he aring to hear comments from the
public regarding the proposed tax rate. The hearing shall be held in the same
location where the governing body of the city or county where the largest
number of citizens served by the special purpose governmental entity res ide
meets, and shall be held immediately before a regularly scheduled meeting of
that governing body.
(b) The special purpose governmental entity shall advertise the hearing by causing
to be published at least twice in two (2) consecutive weeks, in the new spaper
of largest circulation in the county, a display type advertisement of not less
than twelve (12) column inches, the following:
1. The tax rate levied in the preceding year, and the revenue produced by
that rate;
2. The tax rate proposed for the current year and the revenue expected to be
produced by that rate;
3. The compensating tax rate and the revenue expected from it;
4. The revenue expected from new property and personal property;
5. The general areas to which revenue in excess of the revenue produced in
the preceding year is to be allocated;
6. A time and place for the public hearing which shall be held not less than
seven (7) days, nor more than ten (10) days, after the day that the second
advertisement is published;
7. The purpose of the hearing; and
8. A statement to the effect that the General Assembly has required
publication of the advertisement and the information contained therein.
(c) In lieu of the two (2) published notices, a single notice containing the required
information may be sent by first -class mail to each person owning real
property in the special purpose governmental entity, addressed to the property
owner at his residence o r principal place of business as shown on the current
year property tax roll.
(d) The hearing shall be open to the public. All persons desiring to be heard shall
be given an opportunity to present oral testimony. The special purpose
governmental entity may set reasonable time limits for testimony.
(3) (a) That portion of a tax rate levied by an action of a special purpose
governmental entity which will produce revenue from real property, exclusive
of revenue from new property, more than four percent (4%) ov er the amount
of revenue produced by the compensating tax rate shall be subject to a recall
vote or reconsideration by the special purpose governmental entity, as
provided for in KRS 132.017, and shall be advertised as provided in paragraph
(b) of this subsection.
(b) The special purpose governmental entity shall, within seven (7) days
following adoption of an ordinance, order, resolution, or motion to levy a tax
rate which will produce revenue from real property, exclusive of revenue from
new property, mor e than four percent (4%) over the amount of revenue
produced by the compensating tax rate, cause to be published, in the
newspaper of largest circulation in the county, a display type advertisement of
not less than twelve (12) column inches the following:
1. The fact that the taxing district has adopted a rate;
2. The fact that the part of the rate which will produce revenue from real
property, exclusive of new property, in excess of four percent (4%) over
the amount of revenue produced by the compensating tax rate is subject
to recall; and
3. The name, address, and telephone number of the county clerk of the
county in which the special purpose governmental entity is located, with
a notation to the effect that that official can provide the necessary
information about the petition required to initiate recall of the tax rate.