{"data":{"id":"us-ky/krs-58.050","jurisdiction":"us-ky","citation":"KRS 58.050","heading":"Application of proceeds of bonds -- Supplementation by contributions of","body":"issuing agency.\nAll money received from the bonds shall be applied solely for the acquisition,\nconstruction, maintenance or improvement of the public project, and the necessary\nexpense of preparing, printing and selling said bonds, or to advance the payment of the\ninterest on the bonds during the first three (3) years following the date of the bonds, or to\nprovide an initial debt service reserve; and the proceeds of such bonds may b e\nsupplemented by contributions from the issuing governmental agency or from any other\nsource toward the cost of construction of the project or toward the creation of a debt\nservice reserve for the protection and benefit of the bondholders, or for any othe r purpose\nrelated to the financing of the acquisition and construction of such public project; and it\nmay be further provided that any contribution made for the purpose of assisting in the\ninitial establishment of a debt service reserve for the benefit and  protection of the\nbondholders may be returned or reimbursed to the contributor thereof whenever other\nequivalent funds have been provided from the revenues of said project or from any other\nsource toward the establishment of such debt service reserve.","path":["KRS Chapter 58"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22812","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:13Z","sha256":"fda6360708e2390e0f3fc08136865f78fcce04ef57a5990587e0a2251ad8ab83","source_id":"us-ky","stale":false,"prev":"us-ky/krs-58.040","next":"us-ky/krs-58.060"},"notice":"GroundRules: Original legal text. Not legal advice."}