Louisville mayor Greg Fischer has unveiled plans to reopen the city's Kentucky Kingdom amusement park, which was formerly operated by Six Flags before shutting in 2009.

The proposal, which has been presented to investor Ed Hart and Kentucky State Fair Board president Harold Workman, aims to enable the relaunch of the visitor attraction next year. City bonds worth US$17.5m (£10.6m) would be issued as part of the plan, supported by a third-party investor; parking fees and taxes from jobs created at Kentucky Kingdom.

Subject to the Metro Council's approval, the city of Louisville will issue general obligation bonds with annual debt repayments of US$1.5m (£911,000) over the next 20 years. City officials would commit its share of occupational tax revenues from Kentucky Kingdom as part of the bond payment up to a total of US$1m (£608,000).

Parking fees generated by the park would meet any difference between the tax revenue and the US$1m (£608,000), with a third-party investor providing the remaining balance. Louisville chief financial officer Steve Rowland said: "We have had discussions with several people and believe there are interested potential partners who want to see Kentucky Kingdom open and operating."

Image: The T2 rollercoaster at Kentucky Kingdom - Chris Hagerman