{"data":{"id":"us-ky/krs-180.190","jurisdiction":"us-ky","citation":"KRS 180.190","heading":"Department may contract to keep bridges insured.","body":"The department may contract in advance of the issuance of the bonds that while bonds of\nthe project are outstanding, it will keep the bridges in the project adequately insured for\nthe protection of the state and the bondholders, in companies satisfactory t o the\nbondholders, under an \"all -risk coverage\" policy either for the full insurable value or for\nthe face value of the bonds outstanding for such project, whichever is the lesser amount.\nThe department may also contract to carry, during the same period, i nsurance policies in\ncompanies satisfactory to the bondholders, covering the use and occupancy of the bridges\nin such project, in an amount sufficient to provide an income for one (1) year equal to at\nleast one (1) year's interest upon the bonds then outst anding. The premium upon the\npolicies shall be paid from appropriations out of the state road fund unless other provision\nfor payment, but not out of bridge tolls and revenues, is made by law. The department\nmay carry insurance of a lesser extent or amount  if adequate in the judgment of the\ndepartment and the original purchasers of the bonds.","path":["KRS Chapter 180"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=5553","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:31Z","sha256":"69628d638d01e7e298c0c3cf2f2ebf8f278a1d00c6bcbfe1e9589b347f3c8bd0","source_id":"us-ky","stale":false,"prev":"us-ky/krs-180.180","next":"us-ky/krs-180.200"},"notice":"GroundRules: Original legal text. Not legal advice."}