{"data":{"id":"us-ky/krs-66.051","jurisdiction":"us-ky","citation":"KRS 66.051","heading":"Purposes for issuance of bonds -- Principal amount maximum.","body":"(1) An issuer may issue bonds for the purpose of providing funds with which:\n(a) To fund floating indebtedness;\n(b) To fund the cost of providing a public service if the governing body\ndetermines that an emergency exists and the public health or safety so\nrequires;\n(c) To fund unfunded liabilities;\n(d) To establish a reserve for past or future liabilities or casualties; or\n(e) To pay one (1) or more final judgments rendered against the issuer, including\nsettlements of claims approved by a court.\n(2) The principal amount of the bonds issued may not exceed the amount required for\nsubsections (1)(a) to (e) of this section, plus financing costs, permitted by this\nchapter to be paid from the proceeds of bonds, plus, in the case of judgments, costs,\nand expenses assessed or taxed against the issue and defense costs of the issuer.","path":["KRS Chapter 66"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=23573","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:23Z","sha256":"7c9fdd455c7fc6dc42d30fdb6a107266646cf286f20a9c260ac0ec04103a6154","source_id":"us-ky","stale":false,"prev":"us-ky/krs-66.050","next":"us-ky/krs-66.060"},"notice":"GroundRules: Original legal text. Not legal advice."}