{"data":{"id":"us-ky/krs-97.160","jurisdiction":"us-ky","citation":"KRS 97.160","heading":"Bonds to be negotiable and tax-exempt -- Sale -- Cities not to be obligated.","body":"The bonds issued pursuant to KRS 97.150 shall be negotiable and shall not be subject to\ntaxation. If the officers whose signatures or countersignatures appear on the bonds or\ncoupons cease to be officers before delivery of the bonds, the signatures or\ncountersignatures shall nevertheless be valid. The bonds shall be sold in a manner and\nupon the terms as the legislative body of the city deems for the best interests of the city,\nor any contract for the acquisition of a project may provide that payment shall  be made in\nbonds. The bonds shall be payable solely from the revenue funds derived from the\noperation of the project, and the bonds and other obligations incurred for the\nestablishment and maintenance of a recreational project shall not constitute an\nindebtedness of the city within the meaning of the Constitution. It shall be plainly stated\non the face of each bond that it has been issued under the provisions of KRS 97.100 to\n97.240 and does not constitute an indebtedness of the city within the meaning of the\nConstitution.","path":["KRS Chapter 97"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26372","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:59Z","sha256":"4efefde477ba64c308de6a0c753ea630b7aa3f1f60bea50e5ebfc90710f42bca","source_id":"us-ky","stale":false,"prev":"us-ky/krs-97.150","next":"us-ky/krs-97.170"},"notice":"GroundRules: Original legal text. Not legal advice."}