{"data":{"id":"us-ky/krs-220.593","jurisdiction":"us-ky","citation":"KRS 220.593","heading":"Rate schedule for construction subdistrict -- Notice -- Objections --","body":"Purposes -- Trust fund for revenue bonds.\n(1) The district is authorized to establish a schedule of rates, rentals, and charges to be\ncollected from all real property within a const ruction subdistrict served by\nconstruction subdistrict facilities. This schedule shall be in addition to the charge\nauthorized by KRS 220.510. This schedule shall be determined for each\nconstruction subdistrict on the basis of one (1) or more of the factor s stated in KRS\n220.510.\n(2) Before final adoption of such a schedule the district shall give notice of it pursuant\nto KRS Chapter 424. The first notice shall be dated as of the date of the first\npublication; that notice shall state that the proposed or re vised schedule of rates,\nrentals, and charges will remain open for inspection in the office of the district for\nthirty (30) days from the date in the notice, and that any person claiming to be\naggrieved by the proposed schedule may file written objections to it with the\ndistrict. The district shall examine and hear any and all such objections, may modify\nthe proposed schedule, and shall adopt and establish a final schedule within sixty\n(60) days after the date of the first notice.\n(3) Such schedule shall be  established and revised from time to time so as to produce\nrevenues for the construction subdistrict sufficient:\n(a) For the payment of all construction subdistrict bonds and obligations except\nthose payable from assessments,\n(b) For the payment of all co sts and expenses of operating and maintaining the\nconstruction subdistrict which expenses shall include, but not be limited to, an\nequitable portion of the wages, salaries, and fees of officers and employees of\nthe district,\n(c) For the payment to the dist rict of an amount which represents an equitable\nallocation of the cost of district facilities used, directly or indirectly, by the\nconstruction subdistrict if there is such a use,\n(d) To meet all or part of reasonably foreseeable future need for trunk, mai n,\nconnecting sewers and any other facilities necessary to link the construction\nsubdistrict facilities to the district facilities, or, where such linkage is not\nfeasible, to link the construction subdistrict facilities to and dispose of the\nsewage in a tr eatment plant serving at least one (1) other construction\nsubdistrict,\n(e) For the payment of an equitable portion, not to exceed twice the amount\nrequired by paragraph (b), of any amount necessary to establish and maintain a\nfund created by subsection (6), and\n(f) For the payment of all cost of renewals and replacements of construction\nsubdistrict facilities.\n(4) Any and all portions of expenses, salaries, wages and fees necessary or incident to\nimprovements for which bonds are issued may be paid from bond proceeds.\n(5) The rates, rentals, and charges authorized by this section need not be the same for\nall real property within the construction subdistrict but may be based upon any\nreasonable classification.\n(6) The district may create a fund which the distr ict shall hold in trust to guarantee\npayment of construction subdistrict bonds authorized by KRS 220.577. As trustee\nof such fund, the district, to the extent of any payment made from it, shall have all\nthe rights of bondholders against the construction subdistrict revenues. Bondholders'\ncurrent rights shall prevail, however, over the fund's rights. The fund shall not\nexceed ten percent (10%) of the principal amount of the bonds outstanding under\nKRS 220.577. Payment from the fund shall not exceed fifteen p ercent (15%) of the\nunpaid principal amount of any bond in default. If the principal amount of the bonds\noutstanding becomes less than ten (10) times the amount in the fund, any excess in\nthe fund (beyond the maximum amount authorized) shall be transferred  to a\nseparate special fund to be spent, when deemed advisable by the board, for\nconstruction, improvement, maintenance, or operation of sewerage or drainage\nfacilities which will benefit the construction subdistricts which have contributed to\nthe fund.","path":["KRS Chapter 220"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=9855","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:33Z","sha256":"83e5c0b94370a98ec58515220bf90094fa8d012800390d483826ee31f91b75d1","source_id":"us-ky","stale":false,"prev":"us-ky/krs-220.591","next":"us-ky/krs-220.595"},"notice":"GroundRules: Original legal text. Not legal advice."}