{"data":{"id":"us-ky/krs-262.778","jurisdiction":"us-ky","citation":"KRS 262.778","heading":"Resolution for project -- Notice, hearing -- Election -- Declaratory","body":"judgment or injunction suit, time for -- Issuance of bonds -- Levy.\n(1) Upon determination by the board of directors of a watershed conservancy district\nthat a watershed project is n ecessary, and upon approval of the plans for same by\nthe board of supervisors, the board of directors shall adopt a resolution which shall\nset out:\n(a) A description of the project in general terms;\n(b) A list of the benefited lands located in the flood pl ain, as determined by the\nboard of directors, giving the acreage of such lands and the names of the\nowners thereof as defined by KRS 262.010(7) with a classification of such\nlands or parts thereof into classes in order that assessments may be made\naccording to direct benefits;\n(c) The total cost of the project; and\n(d) The fact that the cost shall be met by a bond issue payable solely from annual\nassessments to be levied upon the lands set out in the resolution on the basis\nof a certain amount per acre acco rding to benefits received, not to exceed in\nany one (1) year a sum per acre specified in the resolution, with the annual\nassessments to extend over a period of years specified in the resolution not to\nexceed thirty (30) years.\n(2) The board of directors s hall cause due notice of the resolution to be given to all the\nowners of benefited lands, as determined by the board. Said notice shall set out the\ntime and place of a meeting of the board of directors of the watershed conservancy\ndistrict at which owners of benefited lands who may be liable for the annual\nassessments may be heard.\n(3) At the hearing upon the resolution, owners of benefited lands may voice their views\nconcerning the proposed project as to whether said project should be undertaken,\nand the s cope thereof, or the propriety of placing their lands in the project area or\nthe degree of benefit received by their lands. The board shall prepare a record\nsummarizing the proceedings. If the board of directors determines as a result of the\nhearing that the project should be carried out as planned, it may make such changes\nor revisions in the resolution as it deems proper and shall give due notice of an\nelection to be held at which benefited landowners may vote on the question of\nannual special assessments  to defray the cost of the project. The notice of the\nelection shall include the text of the resolution of the board in its final form. The\nboard of directors may give due notice as provided in KRS 262.010(4).\n(4) The board of directors shall prepare to be  presented to the voters the question:\n\"Should the assessment proposed by resolution of the .... Watershed Conservancy\nDistrict be adopted?\". Voters shall be instructed to vote \"yes\" or \"no.\" Only owners\nof benefited land as set out in the resolution shall  be eligible to vote. The board of\ndirectors may provide for a meeting of the landowners at which the vote may be\ncast, in which case qualified voters may vote by absentee vote. The board shall\nappoint a polling superintendent and other necessary election officers, giving\nrepresentation to the opponents of the question as well as to proponents.\n(5) If a majority of those voting upon the proposition favor the assessment, the board\nshall give due notice of the vote and the fact that bonds will forthwith be is sued\npayable from special assessments. Any owner of property to be benefited by the\nproject may, within forty (40) days after publication of such notice, file an action in\nthe Circuit Court of the county in which his lands are located seeking relief by\ndeclaratory judgment or injunction. If a suit is filed, the county attorney should\nrepresent the board of directors in upholding the validity of the proposed bond\nissue. After the lapse of time specified herein, all actions by owners of properties to\nbe benefited shall be forever barred.\n(6) If no suit is filed and no injunction issued within the time allowed in subsection (5)\nof this section, the board of directors shall by resolution authorize the issuance of\nbonds designated \"watershed project assessment bo nds,\" determining the principal\namount thereof and establishing the denominations and maturity dates thereof and\nshall levy an annual assessment effective only upon the benefited properties and\nbased on the acreage thereof. The annual rate of such assessme nts shall be fixed\nwhen other taxes of the district are levied and shall be sufficient in each year to\nprovide for the payment of such bonds and interest coupons as they mature and\nsufficient to provide a fund equal to twenty percent (20%) of the average a nnual\nprincipal and interest requirements, the same to constitute a \"debt service reserve\"\nas a precaution against possible default by failure to collect annual levies. The\nbonds shall state on their face that they do not constitute a debt of the district but are\npayable solely from collection of special assessments made upon benefited lands\nlying in the watershed conservancy district.","path":["KRS Chapter 262"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=12803","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:11Z","sha256":"e49c7a77842032cdb0b2a4255a94487578ae782241b51684546414ee1342c595","source_id":"us-ky","stale":false,"prev":"us-ky/krs-262.777","next":"us-ky/krs-262.779"},"notice":"GroundRules: Original legal text. Not legal advice."}