{"data":{"id":"us-ky/krs-82.155","jurisdiction":"us-ky","citation":"KRS 82.155","heading":"Use of revenue bond proceeds -- Temporary bonds.","body":"(1) The proceeds of the bonds of each issue shall be used solely for the payment of the\ncost of the lands or property to be used as the site of the governmental project or\nprojects for which such bonds shall have been issued, the cost of such\nimprovements thereto as may have been agreed upon, and the cost of the issue, and\nshall be disbursed in such manner and under such restrictions, if any, as the city may\nprovide in the proceedings authorizing the issuance of such bonds or in the trust\nindenture securing the  same. If the proceeds of the bonds of any issue, by error of\nestimates or otherwise, shall be less than such costs additional bonds may in like\nmanner be issued to provide the amount of such deficit, and, unless otherwise\nprovided in the proceedings autho rizing the issuance of such bonds or in the trust\nindenture securing the same, shall be deemed to be of the same issue and shall be\nentitled to payment from the same fund without preference or priority of the bonds\nfirst issued. If the proceeds of the bond s of any issue shall exceed such costs, the\nsurplus shall be deposited to the credit of the sinking fund or funds for such bonds\nor any account or accounts therein as the city shall have provided in the proceedings\nor trust indenture authorizing and securing such bonds.\n(2) Prior to the preparation of definitive bonds, the city may, under like restrictions,\nissue interim receipts or temporary bonds, with or without coupons, exchangeable\nfor definitive bonds when such bonds shall have been executed and are available for\ndelivery. The city may also provide for the replacement of any bonds which shall\nbecome mutilated or shall be destroyed or lost. Bonds may be issued under the\nprovisions of KRS 82.140 to 82.165 without any other proceedings or the\nhappening of any other conditions or things, except as specifically required by KRS\n82.140 to 82.165.","path":["KRS Chapter 82"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=25053","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:43Z","sha256":"534289525282da511f6f4ac8bc6dcae0c7f5f04921f2d3d30ad9e3c3e044a33e","source_id":"us-ky","stale":false,"prev":"us-ky/krs-82.150","next":"us-ky/krs-82.160"},"notice":"GroundRules: Original legal text. Not legal advice."}