KRS 96.195: City may issue interest -bearing warrants for improvements and extensions

to electric power plants or waterworks.

Municipal corporations in the Commonwealth of Kentucky which own and operate

municipal electric power plants or waterworks are authorized to issue interest -bearing

warrants in payment for extensions and improvements to electric power plants or

waterworks. The warrants shall bear interest at the rate or rates or method of determining

rates as the legislative body of the municipal corporation determines and be due not more

than five (5) years from date. They shall be payable only out of the income from the

operation of the electric power plants or waterworks.