KRS 96A.150: Bond anticipation notes.

When an authority has made a determination, as a matter of record, that it will authorize

and issue in its own name revenue bonds under authority of subsection (2) of KRS

96A.120, or mortgage bonds under authority of subsection (3) of KRS 96A.120, such

authority may obtain interim construction or acquisition financing moneys through the

authorization and issuance of its revenue bond anticipation notes, or its mortgage bond

anticipation notes, as the case may be, the same to be shown in the text thereof to b e

payable as to principal and interest solely from the proceeds of the authorized revenue

bonds or mortgage bonds, as the case may be. Such notes shall mature not later than one

(1) year from the date of issuance thereof, as the authority may determine, an d shall be

renewable at or prior to maturity according to the provisions of the authority's

proceedings incident to the issuance thereof. Such anticipation notes need not be offered

at an advertised competitive public sale, but may be offered in the manner provided for in

the case of similar notes of certain state agencies, according to KRS 56.513.