KRS 162.220: Receiver in case of default.

If there is any default in the payment of the principal or interest on any of the bonds, any

court having jurisdiction of the action may appoint a receiver to administer the school

building on behalf of the city, with power to charge and collect rentals su fficient to

provide for the payment of any bonds or obligations outstanding against the school

building and for the payment of the operating expenses, and to apply the income and

revenues in conformity with KRS 162.150 to 162.280, and the ordinance referre d to in

KRS 162.170 and 162.230.