KRS 65.7707: Maturity of notes -- Payment of interest.

Notes payable shall mature on a date determined by the governing body which shall be no

later than the last day of the fiscal year in which the notes are issued. Interest on notes

from the date thereof shall be payable at their maturity or payable in installments at earlier

dates. Interest on the notes may be at a rate, rates or method of determining rates the

governing body of the governmental agency unit may determine.