KRS 58.410: Definitions for KRS 58.410 to 58.440.

(1) As used in KRS 58.410 to 58.440, unless the context otherwise requires:

(a) "Public body" means the Commonwealth, its political subdivisions, its

municipalities, its school and other taxing districts, its nontaxing public

bodies and institutions, and any and all agencies and instrumentalities thereof,

whether such agencies or instrumentalities be now existing or hereafter

created and established under and pursuant to specific statutory authority, or

whether such agencies or instrumentalities be now existing or hereafter

organized, established, and caused to exist as nonprofit corporations under

applicable general laws, having performance as such agencies or

instrumentalities as their sole corporate purposes;

(b) "Public obligation" means bonds, notes, warran ts, or other obligations of any

public body;

(c) "Rate of interest" means both the coupon or stated interest rate applicable to

any public obligation, and the effective interest rate or interest cost

percentage, computed upon the basis of the coupon or sta ted interest rate or

rates and the price actually to be received by the issuing public body;

provided, however, KRS 58.410 to 58.440 is not intended, and shall not be

construed, to amend, alter, or repeal any existing law requiring that certain

public obligations be sold at not less than the face amount thereof.

(2) KRS 58.410 to 58.440 does not relate to or affect borrowing by any person or

corporation except such as are within the definition of "public body" as set forth in

this section.