KRS 177.605: Advertisements for bids before sale of bonds -- Bids to be in writing and

sealed -- Opening of bids -- Rejection -- Premium and accrued interest to be

deposited in sinking fund -- Destruction of matured coupons -- Cost of

advertising.

Before any of sa id bonds shall be sold, said State Property and Buildings Commission

shall advertise not less than once in each of the four (4) weeks preceding the day of sale

in at least three (3) newspapers of general circulation in Kentucky and in some one (1) or

more recognized financial journals published in the city of New York for bids therefor,

and all bids shall be in writing and sealed, and on the day fixed therefor shall be publicly

opened by the State Property and Buildings Commission at a time and place designated in

the advertisement for bids. None of said bonds shall be sold at less than par and accrued

interest, and each advertisement for bids shall so state. Said bonds shall be sold to the

highest and best bidder. Said State Property and Buildings Commissio n shall have the

right to reject any and all bids. Any premium and accrued interest received shall be

deposited in the sinking fund provided by KRS 177.580 to 177.630 for the payment of

said bonds and interest thereon. On the sale of said bonds, all mature d coupons shall be

detached and destroyed by the State Property and Buildings Commission and a record

made of such destruction. The cost incurred by the State Property and Buildings

Commission in advertising for bids and in making the sale of said bonds sh all be certified

by said commission to the Finance and Administration Cabinet and shall be paid out of

the state road fund.