{"data":{"id":"us-ky/krs-66.091","jurisdiction":"us-ky","citation":"KRS 66.091","heading":"Maturity period of bonds.","body":"Bonds shall have a maximum maturity not exceeding forty (40) years, except as follows:\n(1) Bonds issued to fund a floating indebtedness, five (5) years;\n(2) Bonds issued to pay for the costs of a public project, the life or period of usefulness\nof the publ ic project as estimated by the user and if the bond issue includes more\nthan one (1) public project, the average number of years of life or period of\nusefulness of the public projects measured by the weighted average of the amounts\nexpended or proposed to be expended for the public projects; and\n(3) If, after bonds are issued, the public project or any part of the project is revised in a\nmanner that would change the average number of years of life or the period of\nusefulness of the public project to a perio d that is shorter than the period by which\nthe final maturity of the bonds was determined, the issuer shall nevertheless be in\ncompliance with the requirements of this section so long as the original estimate of\nlife or usefulness was made in good faith.","path":["KRS Chapter 66"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=23581","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:24Z","sha256":"98afffe9eae2fc3ba2f2df7fafb13c4186e2fa73c49324319fd227b39bcbc52c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-66.090","next":"us-ky/krs-66.100"},"notice":"GroundRules: Original legal text. Not legal advice."}