441.665 Authority may issue revenue refunding bonds -- Purposes.

212 words·~1 min read·/ky/chapter-441/441-665

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 bonds then outstanding which shall have been issued

under the provisions of KRS 441.625 to 441.695, including the payment of any

redemption premium thereon and any interest accrued or to accrue to the date of

redemption of such bonds, and, if the authority shall so determine, for the additional

purpose of constructing improvements, extensions, or enlargements of the project or

projects in connection with which the bonds to be refunded shall have been issued.

The authority may also provide for the issuance of its revenue bonds for the

combined purpose of:

(a)Refunding any bonds then outstanding which are issued under the provisions

of KRS 441.625 to 441.695, including the payment of any redemption

premium thereon and any interest accrued or to accrue to the date of

redemption of such 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 thereof, for rights of the

holders thereof, and the rights, duties, and obligations of the authority in respect of

the same, shall be governed by the provisions of KRS 441.625 to 441.695 insofar as

the same may be applicable.