{"data":{"id":"us-ky/krs-178.200","jurisdiction":"us-ky","citation":"KRS 178.200","heading":"Tax levy to retire bonds and pay interest.","body":"(1) If bonds are sold to enable the fiscal court to construct roads and bridges, the fiscal\ncourt shall levy a tax of not over twenty cents ($0.20) on the one hundred dollars\n($100) of the assessed valuation of the county. The tax shall be collected as other\ncounty taxes and allocated, first, to the payment of the interest on the bonds, and the\nbalance placed to the credit of a sinking fund for the redemption of the bonds.\n(2) Any accumulation in the sinking fund may be loaned by the fiscal court on first\nmortgage real estate security, on the basis of fifty percent (50%) of its value, at the\nlegal rate of interest, which shall accrue to the sinking fund, but before the loan is\nmade all titles shall be looked up and papers approved by the county attorney.\n(3) For the 1966 tax year and for all subsequent years the rate levied by the levying\nauthority under the provisions of this section for levies which were approved prior\nto December 16, 1965, shall be the compensating tax rate as defined in KRS\n132.010, except as provided in subsection (4) of this section.\n(4) Notwithstanding the limitations contained in subsection (3) of this section no tax\nrate shall be set lower than that necessary to provide such funds as are required to\nmeet principal and interest payments on outstanding bonded indebtedness.","path":["KRS Chapter 178"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=5441","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:30Z","sha256":"2ab639d37539b15b924199088e7f7ca754281f3d27cbe233718e919899c19b75","source_id":"us-ky","stale":false,"prev":"us-ky/krs-178.190","next":"us-ky/krs-178.210"},"notice":"GroundRules: Original legal text. Not legal advice."}