{"data":{"id":"us-ky/krs-269.080","jurisdiction":"us-ky","citation":"KRS 269.080","heading":"Election -- Limit of tax -- Issue of bonds -- Maturity.","body":"If the probable cost of the improvement is more than the income and revenues of the\ncounty for the year in which it is to be constructed, the county judge/executive shall order\nan election to be held in the county to ascertain the will of the qualified vot ers. The\nelection shall be held in conjunction with a regular election, and the proposition shall be\nfiled with the county clerk not later than the second Tuesday in August preceding the\nregular election. The proposition to be submitted to the voters shall  state the amount, and\nobject for which it is to be expended. The amount shall not exceed two percent (2%) of\nthe value of the taxable property for state purposes, ascertained by the assessment next\nbefore the last assessment for state purposes. The proposed debt shall be made payable so\nas not to require a tax rate of more than fifty cents ($0.50) on each one hundred dollars\n($100) in value of property subject to taxation for state purposes. If two -thirds (2/3) of\nthose voting on the proposition vote for i t, that fact shall be noted of record in the order\nbook of the county judge/executive. The county judge/executive shall then have\nsemiannual coupon bonds of the county prepared, to be made payable not later than forty\n(40) years after date, but payable at the option of the county at any time after two (2)\nyears after date. The bonds shall be signed by the county judge/executive and\ncountersigned by the county clerk. The coupons may be signed by the county clerk only.\nThe bonds, when signed, shall be turned over to the fiscal court of the county.","path":["KRS Chapter 269"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=12998","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:14Z","sha256":"fc930b21ea1138362580c7b1a874f134f3c10246ff1f232a5c4db009089191fe","source_id":"us-ky","stale":false,"prev":"us-ky/krs-269.070","next":"us-ky/krs-269.090"},"notice":"GroundRules: Original legal text. Not legal advice."}