KRS 184.250: Form of apportionment warrants -- Sale.

In the event that the board of directors determines to issue apportionment warrants, the

warrants shall be issued against each parcel of property against which there is a lien for an

unpaid balance of the assessment, shall bear interest at the rate or rate s or method of

determining rates deemed proper by the board, be payable at least annually, and shall be

payable, as to principal, in nine (9) equal installments. The apportionment warrants may

be sold at public or private sale at a price or prices determined by the board of directors or

to the contractor, who must accept the same in full payment of the assessments which

they represent. The apportionment warrants shall be executed by the chairman and the

secretary of the board of directors and may be sold either at public or private sale.