{"data":{"id":"us-ky/krs-98.120","jurisdiction":"us-ky","citation":"KRS 98.120","heading":"Issuance of bonds -- Ordinance -- Submission to voters -- Resubmission.","body":"(1) In order to provide money for the building and improvements, the legislative body\nof the city may, at any time and as often as it deems necessary, adopt an ordinance\nsubmitting to the voters of the city at any regular election the question whether\nbonds of  the city shall be issued for the purpose of carrying out the work. The\nordinance shall be filed with the county clerk not later than the second Tuesday in\nAugust preceding the regular election. The ordinance shall provide the number, date\nand maturity of the bonds, the rate of interest they shall bear and the total amount to\nbe then issued. The ordinance shall also contain the necessary details in reference to\nthe execution and delivery of the bonds, their denominations, coupons to be\nannexed, tax to be levied to pay the interest, and a sinking fund to retire the bonds at\nmaturity.\n(2) If any issue of bonds is voted on and not carried, or if any issue of bonds is voted on\nfavorably and the money is about to be fully expended, or in the opinion of the\nlegislative body will be expended, either before or within such time after an election\nthat the work of the commission may be suspended from lack of funds, the\nlegislative body of the city may pass as many ordinances and submit to a vote the\nquestion of issuing bonds at as many other regular elections held in the city as it\nmay see fit.","path":["KRS Chapter 98"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26473","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:01Z","sha256":"c59929af761ff548f9cab2a13e7d58286032d1a890385ab830c7382e8f5b9981","source_id":"us-ky","stale":false,"prev":"us-ky/krs-98.110","next":"us-ky/krs-98.130"},"notice":"GroundRules: Original legal text. Not legal advice."}