{"data":{"id":"us-ky/krs-269.040","jurisdiction":"us-ky","citation":"KRS 269.040","heading":"Assessment installments and taxes to retire refunding bonds --","body":"Certification to sheriff -- Apportionment and total allowed.\n(1) Upon the issuance of the refunding bonds, all uncollected annual installments\nwhether matured or not, shall be made payable  in annual installments in amounts\nsufficient to provide for the payment of the refunding bonds at maturity. There shall\nalso be levied from year to year taxes ratably allocable to such uncollected\ninstallments, sufficient to provide for the payment of the  interest on the refunding\nbonds as it accrues.\n(2) Each year while any refunding bonds remain outstanding, the board or governing\nauthority shall ascertain the amount of funds required for the payment of maturing\nbonds and accruing interest during the suc ceeding year, and make up, certify and\ntransmit to the sheriff or other tax collector of each county containing any of the\nproperty in the district an annual tax book setting out the annual installments so\nascertained.\n(3) The installments shall be apporti oned to the property in the district in proportion to\nthe unmatured annual installments or assessments. The total certification each year\nshall be sufficient to make ample provision for the payment of maturing principal\nand accruing interest on the refundi ng bonds, making due allowance for probable\ndelinquencies in the payment of taxes and the costs of collection. The grand total of\nsuch annual installments imposed, exclusive of taxes levied for interest on\nrefunding bonds, shall not exceed the benefits ass essed, for any tract of land in the\ndistrict.\nHistory through 1968:   Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1,\n1942, from Ky. Stat. sec. 2380d-3.","path":["KRS Chapter 269"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=12994","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:14Z","sha256":"aa7fc3221e6d987401288701c0d39e92b5b23d54d51bb646bec76375ae878a5d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-269.030","next":"us-ky/krs-269.050"},"notice":"GroundRules: Original legal text. Not legal advice."}