KRS 184.240: Authority to issue apportionment warrants or road district bonds.

In order to obtain funds sufficient to pay for the construction of the proposed

improvement, or sufficient to pay for the reasonable maintenance of the road, being the

balance required after the receipt of full cash payments and initial installment payment s,

but not including in such balance payments due from owners who failed or refused to

make full cash payments or to enter into installment payment agreements, the board of

directors may, in its discretion, provide by resolution for the issuance of interes t-bearing

apportionment warrants against each parcel of property or may direct the issuance and

sale of road district bonds, as hereinafter provided. No bonds shall be issued unless the

aggregate amount of installment payments, subsequent to the first cash payment is one

thousand dollars ($1000) or more.