353.768 Issuance of revenue refunding bonds.

177 words·~1 min read·/ky/chapter-353/353-768

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

(1)The authority may provide for the issuance of revenue refunding bonds for the

purpose of refunding any outstanding bonds that have been issued under KRS

353.750 to 353.776, including the payment of any redemption premium thereon and

any interest accrued to the date of redemption of the bonds, and, if the authority

determines, for the purpose of constructing improvements, extensions, or

enlargements of the project or projects in connection with which the bonds to be

refunded have been issued. The authority may also provide for the issuance of its

revenue bonds for the combined purpose of:

(a)Refunding any outstanding bonds that are issued under KRS 353.750 to

353.776, including the payment of any redemption premium and any interest

accrued to the date of redemption of the bonds; and

(b)Paying any part of the cost of any additional project or projects.

(2)The issuance of such bonds, maturities and other details, for rights of the

bondholders, and the rights, duties, and obligations of the authority, shall be

governed by KRS 353.750 to 353.776 where applicable.