{"data":{"id":"us-ky/krs-58.440","jurisdiction":"us-ky","citation":"KRS 58.440","heading":"Refinancing at higher rate than that of original issue.","body":"If any public body shall determine:\n(1) That financing of a public project may be accomplished to the best advantage in the\npublic interest only by combining the same with refinancing of previously issued\nand outstanding public obligations at a rate or rates of interest higher than the rate or\nrates otherwise applicable thereto;\n(2) That refinancing of a public project at a higher interest rate or rates is necessary in\norder to prevent or anticipate default in payment of interest or principal of public\nobligations with regard thereto; or\n(3) That any combination of the circumstances described in subsection (1) or (2) of this\nsection exists;\nthen such refinancing is recognized to be lawful; provided, however, that prior to any\nsuch refinancing at a higher rat e or rates of interest, the issuing public body shall make\nand spread at large upon its public records its determination that such action is necessary\nor desirable in the public interest, and its reasons therefor.","path":["KRS Chapter 58"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22855","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:13Z","sha256":"3ef6e3d07f68c5fc4095cab4a78c2da10301595f14f68a76f555a4b090888ed5","source_id":"us-ky","stale":false,"prev":"us-ky/krs-58.430","next":"us-ky/krs-58.500"},"notice":"GroundRules: Original legal text. Not legal advice."}