{"data":{"id":"us-ky/krs-58.030","jurisdiction":"us-ky","citation":"KRS 58.030","heading":"Interest rate and maturity of bonds -- Leasing of project -- Acceptance of","body":"donations and government aid.\n(1) The bonds may be issued to bear interest at the rate or rates or method of\ndetermining rates, payable at least annually, and shall be executed in such manner,\nand be payable at such times not exceeding forty (40) years from date thereof and at\nsuch place or places as the governmental agency determines.\n(2) The bonds may provide that they or any of them may be called for redemption prior\nto maturity, on any date not earlier than one (1) year from the date of issuance of the\nbonds, under conditions fixed by the governmental agency before issuing the bonds.\n(3) Any governmental agency is authorized to rent or lease such public project or any\nportion thereof to or contract concerning same with any persons, partnerships,\nassociations, or corporations either public or private, profit or nonprofit.\nNotwithstanding any of the other provisions of KRS 58.010 to 58.140 or any other\nlaws, any such renting, lea sing, or contracting may be accomplished without the\nnecessity of awarding such lease or contract by advertisement or competitive\nbidding, provided the governmental agency so leasing such project or any portion\nthereof or contracting concerning same first makes a legislative determination that it\nis in the best interest of such governmental agency to enter into such lease or\ncontract without the necessity for such advertisement or competitive bidding; and\nsuch lease may provide that the lessee therein is pe rmitted or obligated to sublease\nthe project or any portion thereof for the purpose of accomplishing the creation,\nimprovement, revitalization, renewal or modernization of a central business or\nshopping community.\n(4) A governmental agency is empowered to accept donations or gifts to the public\nproject from any source and to accept appropriations and grants to the public project\nfrom the federal government or its agencies and appropriations from the state or any\ncounty, city, or other political subdivision and, at the option of the governmental\nagency, to pledge such donations, gifts, or appropriations to the payment of revenue\nbonds issued to finance the cost of a public project.","path":["KRS Chapter 58"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22810","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:13Z","sha256":"58206be693efdd36fb3d16055994759acd54c29df244a668dca02e6a57ac2767","source_id":"us-ky","stale":false,"prev":"us-ky/krs-58.025","next":"us-ky/krs-58.040"},"notice":"GroundRules: Original legal text. Not legal advice."}