{"data":{"id":"us-ky/krs-74.180","jurisdiction":"us-ky","citation":"KRS 74.180","heading":"Issuance of bonds or temporary financing of unpaid assessments.","body":"(1) If all assessments are not paid in full by thirty (30) days after notice of assessment,\nthe commission may issue bonds for the amount of the unpaid assessments, or may\nfinance improvements on a temporary basis from district revenues or a loan to be\nrepaid when assessments are collected. If the commission decides to issue bonds, it\nshall give notice that it proposes to issue bonds, giving the amount of bonds to be\nissued, the rate of interest they are to bear, and the time they will become payable.\n(2) At th e expiration of thirty (30) days after the publication, the commission may\ndivide the unpaid assessments into not less than ten (10) annual installments, which\nshall draw interest at the rate or rates or method of determining rates as the\ncommission deems best and be payable annually, from thirty (30) days after the date\nof publication. The bonds shall mature in series to correspond with the installments\ninto which the unpaid assessments are divided, and shall draw interest at the rate or\nrates or method of  determining rates as the commission determines, be payable at\nleast annually, and be payable at some place to be designated by the commission.\nThe bonds shall be for the exclusive use and benefit of the water district and shall\ndesignate on the face the n ame of the district and the purpose for which they were\nissued.\n(3) The commission, in dividing the unpaid assessments into installments, shall fix the\ntime for payment, and each landowner shall pay the installments due on his land,\nwith interest due on th at installment and deferred installments, to the treasurer of\nthe commission on or before the time fixed by the commission for the maturity of\nthe installment.","path":["KRS Chapter 74"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=24384","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:34Z","sha256":"eafa821679f39bae6485d5846d550dee37420447e30ea10fdb4750c303358a5e","source_id":"us-ky","stale":false,"prev":"us-ky/krs-74.177","next":"us-ky/krs-74.190"},"notice":"GroundRules: Original legal text. Not legal advice."}