{"data":{"id":"us-ky/krs-224a.140","jurisdiction":"us-ky","citation":"KRS 224A.140","heading":"Refunding bonds.","body":"(1) The authority is hereby authorized to provide for the issuance of refunding revenue\nbonds or notes for the purpose of refunding any revenue bonds or notes then\noutstanding which shall have been issued under the provisions of this chapter,\nincluding the payment of any redemption premium thereon and any interest accrued\nor to accrue to the date of redemption of such revenue bonds or notes. The issuance\nand sale of such refunding revenue bonds or notes, the maturities and other details\nthereof, the rights of t he holders thereof, and the rights, duties, and obligations of\nthe authority in respect of the same, shall be governed by the provisions of this\nchapter which relate to the issuance of revenue bonds or notes, insofar as such\nprovisions may be applicable.\n(2) Refunding revenue bonds or notes may be sold or exchanged directly for\noutstanding revenue bonds or notes of the authority, and if sold, the proceeds\nthereof shall be applied, in addition to any other authorized purposes, to the\npurchase, redemption, or  payment of such outstanding revenue bonds or notes.\nPending the application of the proceeds of any such refunding revenue bonds, with\nany other available funds, to the payment of the principal, accrued interest, and any\nredemption premium on the revenue b onds or notes being refunded (and if so\nprovided or permitted in the authority resolution authorizing the issuance of such\nrefunding revenue bonds or notes, or in the trust indenture securing the same, to the\npayment of any interest on such refunding revenue bonds or notes and any expenses\nin connection with such refunding), such proceeds may be invested in direct\nobligations of, or obligations the principal of and interest on which are\nunconditionally guaranteed by the United States of America which shall mature or\nwhich shall be subject to redemption by the holders thereof at the option of such\nholders not later than the respective dates when the proceeds, together with the\ninterest accruing thereon, will be required for the purposes intended.","path":["KRS Chapter 224A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=10574","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:43Z","sha256":"d69b7bf0028e35704425005df063d89c855bc1ae67e2ac961b3b5b1eb6396f39","source_id":"us-ky","stale":false,"prev":"us-ky/krs-224a.130","next":"us-ky/krs-224a.150"},"notice":"GroundRules: Original legal text. Not legal advice."}