KRS 162.620: Sale of bonds -- Conditions.

Bonds of the authority shall be sold only upon the basis of sealed bids or proposals,

publicly solicited, received, opened and acted upon. The "publication area," as that term

is used in KRS Chapter 424, shall not be deemed to be the area within which the office of

the authority is situated, but shall be deemed to be the "publication area" of the board of

education executing the lease. Each sale shall be publicly advertised by means of a notice

conforming to the provisions of KRS 424.140(3), and the same sh all be published at least

one (1) time, at least seven (7) days in advance of the date set forth for opening bids, in a

daily newspaper having bona fide general circulation throughout the Commonwealth. If

such publication is made, it shall be sufficient fo r publication in the "publication area" to

be made only one (1) time, at least seven (7) days in advance of the date set forth for the

opening of bids, notwithstanding provisions for publication more often as provided in

KRS Chapter 424. If a copy of the s ale notice be delivered or transmitted in good faith to

the qualified newspaper of the "publication area" in time for publication in an issue

thereof published seven (7) days or more in advance of the date set forth for the opening

of bids, and with direction for publication therein, any failure of such newspaper to make

publication as directed shall not invalidate the sale of the bonds by the authority on the

designated date, nor require postponement or cancellation thereof.