45.812 Listing of costs relating to issuance of general obligation bonds, revenue

297 words·~1 min read·/ky/45-812

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

bonds, or notes authorized by appropriation of General Assembly or by or on

behalf of any Kentucky school district.

(a)Prior to the issuance of the general obligation bonds, revenue bonds, or notes

authorized by an appropriation of the General Assembly, or by or on behalf of

any Kentucky school district, the agency, corporation, or school district

authorized to issue the bonds or notes shall furnish to the Capital Projects and

Bond Oversight Committee and the Interim Joint Committee on

Appropriations and Revenue, and make available to the public, a listing of all

costs associated, either directly or indirectly, with the issuance of the general

obligation bonds, revenue bonds, or notes.

(b)The costs shall be itemized as to amount and name of payee, and shall include

fees or commissions paid to, or anticipated to be paid to, issuers, underwriters,

placement agents and advisors, financial advisors, remarketing agents, credit

enhancers, trustees, accountants, and the counsel of all these persons, bond

counsel, and special tax counsel, and shall include the economic benefits

received or anticipated to be received by any other persons from any source in

return for services performed relating to the issuance of the bonds or notes.

(c)Changes in amounts or names of payees or recipients, or additions of amounts

or names of payees or recipients, to the listing furnished and made available

pursuant to this subsection, shall be furnished to the Capital Projects and

Bond Oversight Committee and the Interim Joint Committee on

Appropriations and Revenue and made available to the public within three

days following the change.

(2)The costs required to be furnished under the provisions of subsection

(1)of this

section shall not include the payment of wages or expenses to full-time, permanent

employees of the Commonwealth of Kentucky.