KRS 97.150: Issuance of bonds to finance project.

For the purpose of defraying the cost of establishing, erecting, and acquiring any

recreational project and necessary appurtenances, any city may borrow money and issue

bonds. The bonds may be issued bearing interest at a rate or rates or method of

determining rates, payable at least annually, and shall be executed in a manner and be

payable at times, not exceeding thirty (30) years from the date of issuance, and at a place

as the legislative body determines.