{"data":{"id":"us-ky/krs-96.020","jurisdiction":"us-ky","citation":"KRS 96.020","heading":"Deposit to accompany bid -- Bidder to give bond.","body":"(1) Each person desiring to bid for the franchise offered for sale under KRS 96.010\nshall first deposit, with the proper officer of the city, cash or a certified check equal\nto five percent (5%) of the fair estimated cost of the plant required to render the\nservice. The deposit shall be forfeited to the city in case the bid is accepted and the\nbidder fails, for thirty (30) days after the confirmation of the sale, to pay the price\nbid and to give a sufficient bond in a sum equal to one -fourth (1/4) of the fair\nestimated cost of the plant to be erected. The bond shall be conditioned to be\nenforceable in case the person giving it fails, within a reasonable time, to establish a\nsuitable plant for rendering the service and begin rendering the service in the\nmanner set forth in the terms of the sale.\n(2) This section shall not apply to a person already owning, in a city other than a city of\nthe first class, a plant and equipment sufficient to render the service required under\nthe franchise.","path":["KRS Chapter 96"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26166","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:57Z","sha256":"2de066b85f3ac000c5ece0add968e45c60bdda7d5f8694226517607f26926674","source_id":"us-ky","stale":false,"prev":"us-ky/krs-96.010","next":"us-ky/krs-96.030"},"notice":"GroundRules: Original legal text. Not legal advice."}