KRS 268.450: Board may defer payment of assessment -- Interest installments to cover

cost of bonds.

If the board believes the interest and welfare of the owners will be best served by not

requiring any part of the minimum district assessment to be collected for no t more than

five (5) years from the time the minimum and interest assessments are confirmed by the

county judge/executive, it shall by resolution fix the time when the first annual

assessment shall become payable. However, sufficient annual assessments sha ll be levied

and collected each year till the year the first installment of the minimum and interest

assessments are due to pay the interest on the bonds, plus the cost of levying and

collecting them. The annual interest installments shall be levied on all property in the

exact ratio of the assessments confirmed by the county judge/executive.