KRS 268.440: Payment in advance of full assessment levied.

(1) At any time prior to the issuance of the bonds, any person may pay in one lump sum

the full amount of the assessment levied against his property, less the amount added

thereto to meet interest. The secretary of the board shall then enter upon the district

assessment record opposite each tract for which payment is made the words "paid in

full" and such assessment shall be deemed satisfied. The secretary shall also make

the same entry opposite each tract for which payment is made in the table included

in the certificate filed in the office of the county clerk. However, this payment shall

not prevent the levying of additional or maintenance assessments against the

property.

(2) At any time after the issuance of the bonds, the board may receive from any owner

payment in full of the unpaid portion of the minimum district assessment against his

property, if arrangements can be made with the bondowners for the surrender and

retirement of an amount of bonds, with coupons attached, equal in principal to the

amount of the lump payment, and if the transaction will cause no present or future

shortage of funds for payment of coupons and the retiring of maturing bonds.