162.100 Limitation on amount of bond issue -- Effect of bonds issued under former
96 words·~1 min read·
/ky/162-100A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
laws.
(1)The bond issue of any district shall not exceed the limits provided in the
Constitution, such limitation to be estimated upon the assessment next before the
last assessment previous to the incurring of the indebtedness.
(2)All of the bonds voted by the various types of school districts and subdistricts prior
to June 14, 1934, shall be retired and the interest paid thereon in accordance with
the laws under which they were voted, and nothing in KRS 162.080 to 162.100
shall in any way impair any of such bond obligations or the interest thereon.