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Kentucky · Snapshot 09/05/2026

KRS 175.510: Revenue bonds are not debt of Commonwealth.

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  1. KRS Chapter 175

Revenue bonds issued by the authority under the provisions of this chapter shall not be

deemed to constitute a debt of the department or of the Commonwealth or of any political

subdivision thereof, or a pledge of the faith and credit of the department or o f the

Commonwealth or of any such political subdivision, but such bonds shall be payable

solely from the funds provided therefor under the provisions of this chapter. All such

revenue bonds shall contain on the face thereof a statement to the effect that n either the

Commonwealth nor the authority shall be obligated to pay the same or the interest thereon

except from revenues of the turnpike project for which they are issued, including rentals

under a lease of such project to the Department of Highways of th e Commonwealth for a

biennium and subject to renewal for successive bienniums; and that neither the faith and

credit nor the taxing power of the Commonwealth or of any political subdivision thereof

is pledged to the payment of the principal of or the interest on such bonds.

Collected 2026-09-05T20:51:25Z. Source file · JSON

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