{"data":{"id":"us-ky/krs-66.071","jurisdiction":"us-ky","citation":"KRS 66.071","heading":"Capitalized interest in bonds -- Financing costs.","body":"(1) Capitalized interest may be included in the principal amount of bonds to pay the\ninterest that the issuer estimates will become due and payable on the bonds prior to\nthe receipt of sufficient taxes, special assessments, or other revenues or receipts\nfrom w hich the interest is generally to be paid. Capitalized interest shall be\ndeposited, as determined by the issuer, in the sinking fund or in a separate account\nin the special project or construction fund, and applied to interest on those bonds.\nThe amount of  capitalized interest may not exceed an amount estimated by the\nissuer to be interest that will accrue on the bonds prior to the date that is twelve (12)\nmonths after the date the public project is anticipated to be available for use.\n(2) The amount of cap italized interest authorized by this section to be included in the\nprincipal amount of an issue of bonds shall be reduced by the amount of any\ncapitalized interest included in any prior issue of bonds or obligations that is to be\nor was retired by the issuance of the bonds or prior bonds.\n(3) Financing costs may be paid unless otherwise provided in the proceedings, from the\nproceeds of the bonds to which they relate and, as to future financing costs, from the\nsame sources from which debt charges on the bond s are paid and as though debt\ncharges.","path":["KRS Chapter 66"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=23577","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:24Z","sha256":"36f88ea9078f89b65e363f3b7e78c19593750f0d673769c2c07a70f51fa2a89c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-66.070","next":"us-ky/krs-66.080"},"notice":"GroundRules: Original legal text. Not legal advice."}