{"data":{"id":"us-ky/krs-184.270","jurisdiction":"us-ky","citation":"KRS 184.270","heading":"Sale of bonds -- Sources of payment.","body":"The bonds shall be sold at public sale to the highest responsible bidder. The sale shall be\nadvertised by publication pursuant to KRS Chapter 424. If no bidder offers a purchase\nprice deemed acceptable by the board of directors for the purchase of the bond s, then the\nroad district shall have the right to turn them over to the contractor in full payment of that\nportion of the contract price of the improvement or that portion of the contract price of\nthe contemplated maintenance represented by par and accrued  interest. The contractor\nshall accept the bonds and give credit on the contract price for the full face value and\naccrued interest on the bonds. Any premium realized from the sale of the bonds and any\npenalties collected on account of the delinquency of a ny installment payments of\nassessments shall be added to the bond fund for the payment of the bonds and interest on\nthe bonds. The bonds and interest shall be payable out of funds actually paid to and\ncollected by the road district on account of the improvement assessment in anticipation of\nwhich the bonds were issued.","path":["KRS Chapter 184"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=5907","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:36Z","sha256":"71c5bda04ccec0dde61f6ab2e3f6ed1ab4f63c291782036c4867ab92e837b7e5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-184.260","next":"us-ky/krs-184.280"},"notice":"GroundRules: Original legal text. Not legal advice."}