KRS 96.390: Bonds negotiable and tax -free -- Method of sale -- Payable solely from

revenues.

Bonds issued pursuant to KRS 96.370 shall be negotiable and shall not be subject to

taxation. If any officer whose signature or countersignature appears on the bonds or

coupons ceases to be an officer before delivery of the bonds, his signature or

countersignature shall nevertheless be valid and sufficient for all purposes the same as if

he had remained in office until delivery. The bonds shall be sold in a manner and upo n

the terms as the city or urban -county government legislative body deems for the best

interest of the city or urban -county government, or any contract for the purchase or

acquisition of any waterworks may provide that payment shall be made in bonds. The

bonds shall be payable solely from the revenue funds derived from the waterworks as

provided in KRS 96.430 and shall not constitute an indebtedness of the city or urban -

county government within the meaning of the Constitution. It shall be plainly stated on

the face of each bond that it has been issued under the provisions of KRS 96.350 to

96.510 and that it does not constitute an indebtedness of the city or urban -county

government within the meaning of the Constitution.