{"data":{"id":"us-ky/krs-82.150","jurisdiction":"us-ky","citation":"KRS 82.150","heading":"Terms of revenue bonds -- Form -- Sale.","body":"(1) The principal of and the interest on the bonds shall be payable solely from the funds\nprovided for the payment. The bonds of any issue may be in one (1) or more series\nand any one (1) or more series may enjoy equal or subordinate status with respect to\nthe pledge of funds from which they are payable, shall be dated, shall bear interest\nat a rate or rates or method of determining rates, shall mature at a time or times not\nexceeding forty (40) years from their date or dates, all as may be provided by the\ncity, and may be made redeemable before maturity, at the option of the city, at a\nprice or prices and under the terms and conditions as may be fixed by the city prior\nto the issuance of the bonds.\n(2) The city shall determine the form of the bonds, including a ny interest coupons to be\nattached to the bonds, and shall fix the denomination or denominations of the bonds\nand the place or places for payment of principal and interest, which may be at any\nbank or trust company within or without the Commonwealth. The b onds shall be\nsigned by the facsimile signature of the mayor and the seal of the city or a facsimile\nof the seal shall be affixed and attested by the manual signature of the city clerk,\nand any coupons attached shall bear the facsimile signature of the may or and the\ncity clerk. In case any officer whose signature or a facsimile of whose signature\nshall appear on any bonds or coupons shall cease to be an officer before the delivery\nof the bonds, the signatures or the facsimile shall nevertheless be valid and\nsufficient for all purposes the same as if he had remained in office until the delivery.\nAll bonds issued under the provisions of KRS 82.140 to 82.165 shall have and are\ndeclared to have all the qualities and incidents of negotiable instruments under the\nnegotiable instruments law of the Commonwealth. The bonds may be issued in\ncoupon or in registered form, or both, as the city may determine, and provisions\nmay be made for the registration of any coupon bonds as to principal alone and also\nas to both principal and interest, and for the reconversion into coupon bonds of any\nbonds registered as to both principal and interest.\n(3) The city may sell the bonds at a public sale in a manner as it may determine will\nbest effect the purposes of KRS 82.140 to 82.165.","path":["KRS Chapter 82"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=25052","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:43Z","sha256":"49894d1f7ba0537587ca60d8c21f1ceda72d56081b43cfbb530a5d0900eabdcd","source_id":"us-ky","stale":false,"prev":"us-ky/krs-82.145","next":"us-ky/krs-82.155"},"notice":"GroundRules: Original legal text. Not legal advice."}