KRS 162.190: Bonds negotiable -- Tax-exempt -- Signatures -- Not city debt.

All bonds issued under the provisions of KRS 162.170 shall have all of the qualities of

negotiable instruments, and shall not be subject to taxation. If any of the officers whose

signatures appear on the bonds or coupons cease to be such officers before delivery of the

bonds, the signatures shall nevertheless be valid for all purposes the same as if the

officers had remained in office until delivery. The bonds shall be payable solely from the

revenue derived from the school building as provided in KRS 162.2 30, and shall not

constitute an indebtedness of the city within the meaning of the constitutional provisions

or limitations. It shall be plainly stated on the face of each bond that it was issued under

the provisions of KRS 162.150 to 162.280 and that it d oes not constitute an indebtedness

of the city.