KRS 162.080: Bond issues for school sites and buildings -- Authorization -- Election.

(1) Whenever a board of education deems it necessary for the proper accommodation of

the schools of its district to enlarge sites for school buildings, to purchase new sites,

which in the case of independent districts may be not more than two (2) miles

without the boundary lines of the district, to improve, remodel, or restore school

buildings, to erect or equip new school buildings, or for any or all of these purposes,

and the annual funds raised from other sources are not sufficient to accomplish the

purpose, the board shall make a careful estimate of the amount of money required

for the purpose and shall determine the amount of money for which bonds shall be

issued and the purpose to which the proceeds shall be applied. Upon request of the

board of educat ion of any district, the county clerk shall submit to the qualified

voters of the district, the question as to whether bonds shall be issued for the

purpose. The question shall be so framed that the voter may by his vote answer

"for" or "against."

(2) The request shall be accompanied by an ordinance or resolution which shall fix the

time the bonds shall run and, if a serial issue, the amount to mature at each time. It

shall limit the rate of interest to be permitted on the bonds, which shall not exceed

the amount permitted by law, and the total amount of bonds to be issued, and shall

provide for the levy of a tax to pay the interest and to create a sinking fund to retire

them at their maturity.

(3) The election shall be held not less than fifteen (15) nor mo re than thirty (30) days

from the time the request of the board of education is filed with the county clerk,

and reasonable notice of the election shall be given. The election shall be conducted

and carried out in the school district in all respects as req uired by the general

election laws, and shall be held by the same officers as required by the general

election laws. The expense of the election shall be borne by the school district.