KRS 65.7713: Enforcement of pledge, lien, and charge -- Payment of notes.

The holder of the notes may enforce a pledge of, security interest in, and lien and charge

on, the taxes or revenues, or both, of the governmental agency against all state and local

public officials in possession of any of the taxes or revenues at any time which may be

collected directly from the official upon notice by the holder for application to the

payment of a note as and when due or for deposit in the applicable sinking fund or note

retirement fund at the times and in the amounts specified in the not e. Any state or local

public official in possession of any taxes or revenues which are pledged shall make

payment, against receipt therefor, directly to the holder of the notes and shall be

discharged from any further liability or responsibility for taxes or revenues. If the

payment is a payment in full of the notes, it shall be made against surrender of the notes

to the state or local public official for delivery to the governmental agency in the case of

payment in full, otherwise it shall be made against production of the notes for notation

thereon of the amount of the payment.