{"data":{"id":"us-ky/krs-269.030","jurisdiction":"us-ky","citation":"KRS 269.030","heading":"Notice of intention to refund bonds -- Form -- Majority of owners may","body":"require abandonment of refunding.\n(1) Before issuing any refunding bonds the board of drainage commissioners or other\ngoverning authority shall set a date and place for a hearing, a nd give notice of the\nhearing to all persons owning any interest in any property assessed in the district of\nits intention to refund the bonds. This notice shall be published pursuant to KRS\nChapter 424. The hearing shall be held by the board or governing authority at the\nplace designated by it.\n(2) The notice will be sufficient if substantially in the following form:\n\"All persons interested in property lying in _________ District, _________ County,\nKentucky, take notice:\n\"That _________ District, _________ County, Kentucky, desires to refund all (part)\nof its outstanding bonded indebtedness (and accrued interest) and that at _________ in\nthe City of _________, on the _____ day of __________, 19____, at _____ o'clock ____\nany person having an interest in a ny property in the district may appear before the board\nof drainage commissioners (other governing authority) of the district, and show any cause\nwhy the refunding should not be done, and taxes in addition to the assessed benefits\nlevied, if necessary, for  the purpose of paying interest on the refunding bonds. You are\nfurther notified that if a majority of the owners of land in the district, owning a majority\nof the acres of land therein, object, the refunding will be abandoned. You will further take\nnotice that unless the refunding is abandoned, any owner may, at any time within two\nweeks after the making of the order to issue refunding bonds, pay the full amount of\nuncollected principal tax or assessment chargeable to his property for the payment of the\nbonds proposed to be refunded. Any tract on which the tax or assessment is paid will be\nreleased from any tax or assessment for the payment of the refunding bonds, but shall\nremain subject to any additional taxes that may be levied by the district.\n\"Dated at  __________, Kentucky, the _____day of _________, 19____ Board of\nDrainage Commissioners (other governing authority) of _________ County, Kentucky,\nby _________.\"\n(3) If, at or prior to the holding of the meeting and hearing, a majority of the owners in\nthe district, owning a majority of the acres of land therein, file with the board or\nother governing authority written objections to the refunding of the outstanding\nbonds, the board or other governing authority shall enter an order reciting the fact\nthat the objections have been filed and abandoning the refunding.","path":["KRS Chapter 269"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=12993","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:14Z","sha256":"fcdc52617dd88d2d48f2e0acc6e692e54a93e2cbc27484d1ba37398ebc2dc5f2","source_id":"us-ky","stale":false,"prev":"us-ky/krs-269.020","next":"us-ky/krs-269.040"},"notice":"GroundRules: Original legal text. Not legal advice."}