{"data":{"id":"us-ky/krs-164a.150","jurisdiction":"us-ky","citation":"KRS 164A.150","heading":"Issuance of refunding obligations.","body":"(1) The corporation is hereby authorized to provide for the issuance of refunding\nobligations for the purpose of refunding any obligations then outstanding which\nshall have been issued under the provisions of this chapter, including the payment\nof any redemption premium thereon and any interest accrued or to accrue to the date\nof redemption of such obligations and, if deemed advisable by the corporation, for\nany corporate purpose of the corporation. The issuance of such obligations, the\nmaturities and other det ails thereof, the rights of the holders thereof, and the rights,\nduties and obligations of the corporation in respect of the same shall be governed by\nthe provisions of this chapter which relate to the issuance of obligations, insofar as\nsuch provisions may be appropriate therefor.\n(2) Refunding obligations may be sold or exchanged for outstanding obligations issued\nunder this chapter and, if sold, the proceeds thereof may be applied, in addition to\nany other authorized purposes, to the purchase, redemption  or payment of such\noutstanding obligations. Pending the application of the proceeds of any such\nrefunding obligations, with any other available funds, to the payment of the\nprincipal, accrued interest and any redemption premium on the obligations being\nrefunded, and, if so provided or permitted in the resolution authorizing the issuance\nof such refunding obligations or in the trust agreement securing the same, to the\npayment of any interest on such refunding obligations and any expenses in\nconnection with such refunding, such proceeds may be invested in direct obligations\nof, or obligations the principal of and the interest on which are unconditionally\nguaranteed by, the United States of America which shall mature or which shall be\nsubject to redemption by the holders thereof, at the option of such holders, not later\nthan the respective dates when the proceeds, together with the interest accruing\nthereon, will be required for the purposes intended.","path":["KRS Chapter 164A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=4545","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:19Z","sha256":"04b48d7c90abf6b51722d5277e3bbdd31adfcf1d2586734d887e746365ea0216","source_id":"us-ky","stale":false,"prev":"us-ky/krs-164a.140","next":"us-ky/krs-164a.160"},"notice":"GroundRules: Original legal text. Not legal advice."}