KRS 65.7715: Estimate of revenues available for securing notes.

Prior to each authorization of notes, authorized officers of the governmental agency shall

make an estimate of the taxes or revenues, or both, whichever is to secure the payment of

the notes, which are estimated to be received during the period when the no tes will be

outstanding. The estimate shall take due account of the past and anticipated collection

experience of the governmental agency and of current economic conditions. The estimate

shall be certified by the officer as of a date not more than thirty ( 30) days prior to the

effective date of the legislation authorizing the notes.