{"data":{"id":"us-ky/krs-162.380","jurisdiction":"us-ky","citation":"KRS 162.380","heading":"Bonds are obligations of governing body -- Resolution constitutes contract.","body":"The bonds issued under authority of KRS 162.350 shall be obligations only of the\ngoverning body of the institution, payable as to both principal and interest from the\nrevenues as pledged for that purpose. In no event shall they be considered a debt for\nwhich the credit of the state is pledged. Any resolution adopted under the provisions of\nKRS 162.350 or 162.360 shall constitute a contract between the governing body of the\ninstitution and the holder of any bond or coupon and shall be binding in all respect s upon\nthe governing body of the institution and its successors.","path":["KRS Chapter 162"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=4065","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:12Z","sha256":"c0930064ae726fb84bb96a82e05a0f33fe5b1b81f8184fe2d5992f0edc9c18ad","source_id":"us-ky","stale":false,"prev":"us-ky/krs-162.370","next":"us-ky/krs-162.385"},"notice":"GroundRules: Original legal text. Not legal advice."}