{"data":{"id":"us-ky/krs-220.500","jurisdiction":"us-ky","citation":"KRS 220.500","heading":"Subsequent issue of bonds for additions and improvements.","body":"A sanitation district acquiring any sanitary works under the provisions of KRS 220.010 to\n220.520 may provide for the extension, addition or improvement of the works by an\nadditional issue or issues of bonds, in the same manner as for the original bonds. S uch\nbonds shall be junior in standing to the bonds of the original issue, and shall constitute a\nsecond lien upon the revenues of the district, secured by a second statutory mortgage lien\nupon the property of the district, and an additional bond and intere st payment fund shall\nbe established by resolution at the time of the issuance of such second lien bonds. Any\nsurplus of funds that would otherwise be placed in the depreciation account shall be\nplaced in the bond and interest payment fund for the payment of the principal and interest\nof such second lien bonds. The rates for services charged to the users of the works of the\ndistrict may be increased to provide the additional revenue necessary to amortize such\nsecond lien bonds.","path":["KRS Chapter 220"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=9822","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:32Z","sha256":"1858c295e81faebcec475ba23300bd92d3b9afdd1372d82680c06b9adc0242cc","source_id":"us-ky","stale":false,"prev":"us-ky/krs-220.490","next":"us-ky/krs-220.510"},"notice":"GroundRules: Original legal text. Not legal advice."}