KRS 177.540: Refunding bonds -- Additional bonds.

The department is hereby authorized to provide for the issuance of turnpike revenue

refunding bonds of the Commonwealth for the purpose of refunding any bonds then

outstanding which shall have been issued under the provisions of KRS 177.390 to

177.570, inc luding the payment of any redemption premium thereon and any interest

accrued or to accrue to the date of redemption of such bonds, and, if the department shall

so determine, for the additional purpose of constructing improvements, extensions, or

enlargements of the turnpike project or projects in connection with which the bonds to be

refunded shall have been issued. The department is further authorized to provide for the

issuance of its turnpike revenue bonds for the combined purpose of (a) refunding any

bonds then outstanding which shall have been issued under the provisions of KRS

177.390 to 177.570, including the payment of any redemption premium thereon and any

interest accrued or to accrue to the date of redemption of such bonds and (b) paying all or

any part of the cost of any additional turnpike project or projects. The issuance of such

bonds, the maturities and other details thereof, the rights of the holders thereof, and the

rights, duties and obligations of the department in respect of the same, sh all be governed

by the provisions of KRS 177.390 to 177.570 insofar as the same may be applicable.