KRS 216.110: Interest rate and term of bonds.

All bonds issued under the provisions of KRS 216.100 to 216.220 may bear interest at a

rate or rate or method of determining rates, payable at least annually, and shall be

executed in a manner and be payable at times, not exceeding thirty (30) years from t he

date of the issue of the bonds, and at a place as the legislative body shall determine.