{"data":{"id":"us-ky/krs-220.370","jurisdiction":"us-ky","citation":"KRS 220.370","heading":"Borrowing money for preliminary expense.","body":"To facilitate the preliminary work and payment of that work, the board of directors may\nborrow money for the district at a rate or rates or method of determining rates as they may\ndetermine, and may issue and sell, or deliver directly to its creditors, neg otiable warrants\nsigned for the district by the members of the board of directors. The board may pledge the\npreliminary tax authorized by KRS 220.360, less a reasonable allowance for interest, after\nthe tax has been levied, for the repayment of the warrant s. If any warrant is presented for\npayment and is not paid for want of funds in the Treasury, that fact, with the date of\nrefusal to pay, shall be indorsed on the back of the warrant, and the warrant shall then\ndraw interest at the rate or rates or method of determining rates set out in this section until\nthere is money on hand, derived from the tax levy, sufficient to pay the amount of the\nwarrant with interest.","path":["KRS Chapter 220"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=9809","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:32Z","sha256":"fbbeb8be5d0f7b7a336a61b1c8ab8f8d1b38dd008cec02e6524ac9f54b79acd4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-220.360","next":"us-ky/krs-220.380"},"notice":"GroundRules: Original legal text. Not legal advice."}