KRS 181.710: Additional bonds may be issued -- Effect of surplus.
Where this section sits in the code
- KRS Chapter 181
(1) If the proceeds of the bonds are less than the cost of the bridge, additional bonds
may be issued in the same manner to provide the amount of the deficit, and unless
otherwise provided in the trust indenture, shall be deemed to be of the same issue
and shall be entitled to payment from the same fund without preference or priority
of the bonds first issued for the same bridge.
(2) If the proceeds of the bonds exceed the cost of the bridge, the surplus shall be paid
into the fund for the payment of principal and interest of the bonds.
Collected 2026-09-05T20:51:33Z. Source file · JSON