{"data":{"id":"us-ky/krs-106.260","jurisdiction":"us-ky","citation":"KRS 106.260","heading":"Form of bonds -- Improvement or refunding bonds -- Negotiability --","body":"Procedure for sale.\n(1) Bonds issued pursuant to this chapter by water district commissioners and by a\nlegislative body of a municipality may be issued in one (1) or more series, may bear\na date or dates, may mature at a time or times, not exceeding forty (40) years from\ntheir respective dates, may be in a denomination or denominations, may be in a\nform, either coupon or registered, may carry registration and conversion privileges,\nmay be executed in a manner, may be payable in a medium of payment, at a place or\nplaces, may be sold or hypothecated in blocks, and may be subject to the terms of\nrepurchase or redemption of all or any of the bonds before maturity in a manner,\nand at a price or prices as may be fixed by the board prior to the sale of the bonds.\n(2) The board at any time may issue and sell revenue bonds to finance improvement or\nissue and sell refunding bonds for the purpose of providing funds for the payment of\nany outstanding bonds issued in accordance with the provisions of this chapter. The\nnew bonds shall be issued, sold, and secured in accordance with the provisions of\nthis chapter for the issuance of the original revenue bonds.\n(3) All revenue bonds issued pursuant to th e provisions of this chapter in the hands of\nbona fide holders, shall have all the qualities and incidents of negotiable\ninstruments under the law merchant. All bonds shall be sold to the highest\nresponsible bidder at a time and place as shall have been fi xed by the board in the\nnotice of the sale of the bonds, which notice shall have been advertised by\npublication pursuant to KRS Chapter 424. The board shall receive written, sealed\ncompetitive bids, which shall be publicly opened and read at the time and p lace\nspecified in the notice of sale. The board may reject all bids and readvertise.","path":["KRS Chapter 106"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=27150","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:09Z","sha256":"fbb0f55c4abd0bbad35eb0d8f39f92ddfa61e8adc436b84696f109f7fe11595b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-106.250","next":"us-ky/krs-106.270"},"notice":"GroundRules: Original legal text. Not legal advice."}