KRS 279.130: Obligations, how issued, secured, purchased or redeemed.

Any corporation formed under this chapter may issue its obligations and pledge its future

revenues for the payment thereof. The obligations may be in the form of bonds, notes,

debentures, interim certificates or other evidences of indebtedness. The obligat ions shall

be authorized by the board of directors by a resolution which shall fix the dates of

issuance and maturity, the rate and time of payment of interest, and denominations, the

form (either coupon or registered), the registration privileges, the man ner of execution,

the place and medium of payment, and the terms of redemption. Any limitation as to

interest or term of maturity otherwise provided by law shall not be applicable to

obligations issued by a corporation organized under this chapter.