KRS 216.120: Negotiability of bonds -- Tax exemption -- Signatures -- How sold -- Not a

city debt.

All bonds issued under KRS 216.100 to 216.220 shall be negotiable and shall not be

subject to taxation. If any officer whose signature appears on the bonds or coupons ceases

to be an officer before delivery of the bonds, the signature shall nevertheless be valid and

sufficient for all purposes the same as if he had remained in office until delivery. The

bonds shall be sold in a manner and upon the terms as the legisla tive body of the city

deems for the best interest of the city, or any contract for the purchase or acquisition of

any municipal hospital may provide that payment of the bonds shall be made in bonds.

The bonds shall be payable solely from the revenue derive d from the operation of the

hospital as provided in KRS 216.160, and shall not constitute an indebtedness of the city

within the meaning of the constitution. It shall be plainly stated on the face of each bond

that it was issued under the provisions of KRS 216.100 to 216.220 and does not

constitute an indebtedness of the city within the meaning of the Constitution.