{"data":{"id":"us-ky/krs-268.330","jurisdiction":"us-ky","citation":"KRS 268.330","heading":"Board may borrow money.","body":"When the decision of the board becomes final, the board may borrow any money\nnecessary to carry on the business and work of the district, not exceeding seventy -five\npercent (75%) of the aggregate assessed benefit as shown by the corrected report of the\nappraisers. To secure the payment of any loan, the board may pledge the faith and credit\nof the district. No money shall be borrowed for a longer period of time than the actual\nneeds of the district require, and in no case for more than five (5) years. Every loan shall\nbe repaid as soon as there are sufficient funds in the hands of the treasurer, collected from\nassessments or realized from a sale of district bonds.","path":["KRS Chapter 268"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=12956","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:13Z","sha256":"75467122bf4694c4249e52d0452257d6ccd2ccc0946c1fcd4d1cb1dcc8d761ac","source_id":"us-ky","stale":false,"prev":"us-ky/krs-268.320","next":"us-ky/krs-268.340"},"notice":"GroundRules: Original legal text. Not legal advice."}