{"data":{"id":"us-ky/krs-76.279","jurisdiction":"us-ky","citation":"KRS 76.279","heading":"Lease of system constructed by metropolitan sewer district -- Renewals --","body":"Revenue bonds of metropolitan district.\n(1) In order to provide for the construction of a comprehensive sewage and sewage\ntreatment system, or storm water and surface drainage sy stem, or both, the\nsanitation tax district and a metropolitan sewer district may agree in writing that the\nlatter shall construct the system and operate it in consideration that the sanitation\ntax district lease the system for a term of one (1) year, which  term may be renewed.\nNo such system shall include lateral sewers. It may include any other appliance or\nstructure reasonably incident to such a system.\n(2) The sanitation tax district shall have an exclusive option to renew for each year\nsucceeding the or iginal term, but the option shall not grant exclusive renewal\noptions for more than forty (40) years. The method of exercising the exclusive\noption to renew the lease shall be any method permissible under law which does not\nhave the effect of authorizing o r permitting the sanitation tax district to become\nindebted to an amount exceeding, in any year, the income and revenue provided for\nsuch year within the meaning of Section 157 of the Constitution of Kentucky.\n(3) A metropolitan sewer district is authorize d to issue bonds secured solely by rentals\npayable under such a lease to finance construction of the system. Except as provided\nin the preceding sentence, all matters pertaining to such bonds shall be governed by\nKRS 76.254 and 76.261.","path":["KRS Chapter 76"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=24544","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:36Z","sha256":"4b9b9acc1bc2186fec0791f82a2e8c2fc3029a1a5d8ec3d7f7a68d715f4a2abd","source_id":"us-ky","stale":false,"prev":"us-ky/krs-76.278","next":"us-ky/krs-76.280"},"notice":"GroundRules: Original legal text. Not legal advice."}