{"data":{"id":"us-ky/krs-66.101","jurisdiction":"us-ky","citation":"KRS 66.101","heading":"Contents of legislation authorizing issuance.","body":"(1) A city or county by ordinance and a taxing district by resolution shall enact debt\nprovisions which:\n(a) Declare the necessity of the bond issue;\n(b) State the principal amount or maximum principal amount of the bonds to be\nissued;\n(c) State the purpose of the bond issue;\n(d) State or provide for the date of, and the dates and amounts or maximum\namounts of, maturities or principal payments on the bonds;\n(e) State any provisions for a mandatory sinking fund, mandatory sinking fund\nredemption, or for redemption prior to maturity;\n(f) Provide for the rate or rates of interest, or maximum rate or rates of interest, or\nthe method from time to time for establishing or determining the rate or rates\nof interest to be paid on the bonds; and\n(g) State any provision fo r a designated officer of the issuer to determine any of\nthe specific terms required to be stated or provided for in this section, subject\nto any limitations stated in the proceedings.\n(2) Legislation passed under this section shall identify the source or sources of payment\nof debt charges on the bonds, which may be any moneys of the issuer required by\nlaw to be used, or lawfully available. The legislation shall provide for the levying of\na tax sufficient in amount to pay the debt charges on the bonds issue d under the\nlegislation, but the amount of that tax to be levied or collected in any year may be\nreduced by the amount lawfully available from existing taxes.","path":["KRS Chapter 66"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=23583","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:24Z","sha256":"4ddd3cdef636737418addc90db683172aabf6d568b7fc94382cfcab26ea38106","source_id":"us-ky","stale":false,"prev":"us-ky/krs-66.100","next":"us-ky/krs-66.110"},"notice":"GroundRules: Original legal text. Not legal advice."}