{"data":{"id":"us-ky/krs-106.190","jurisdiction":"us-ky","citation":"KRS 106.190","heading":"Setting aside of fund equal to amount of secured debt or charge.","body":"The resolutions or ordinances required by this chapter may set apart a fund equal to the\namount of any secured debt or charge subject to which a waterworks is acquired, and\nshall set aside to that fund, from the balance of the income and revenues of the\nwaterworks remaining after setting aside the funds for payment of principal and interest\nof bonds, a sum sufficient to comply with the requirements of the instrument creating the\nlien or securing the charge. If the instrument does not make any provision ther efor, the\nresolution or ordinance shall fix and determine the amount that shall be set aside for\ninterest on the secured debt or charge and a fixed amount to pay the principal thereof at\nmaturity. Any surplus after satisfying the secured debt or charge may  be used for the\nredemption of the principal and interest of bonds. Bonds may be issued pursuant to the\nprovisions of this chapter in exchange for or in satisfaction of such secured debt or\ncharge, or may be sold and the proceeds applied in payment of the secured debt or charge\nat or before maturity.","path":["KRS Chapter 106"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=27143","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:09Z","sha256":"171c783d8a18f6d6f0b3f77a47fc090d4f20199bab4e1e71c1ce52bf34b97932","source_id":"us-ky","stale":false,"prev":"us-ky/krs-106.180","next":"us-ky/krs-106.200"},"notice":"GroundRules: Original legal text. Not legal advice."}