76.272 Bonds of several construction subdistricts -- Purposes, effect.
169 words·~1 min read·
/ky/chapter-76/76-272A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The district may issue for one or more construction subdistricts bonds to finance
construction of trunk, main, connecting sewers and any other facilities necessary to
which, directly or indirectly, connect one or more of such construction subdistricts
to either the district facilities or to a treatment plant, disposal plant, or outfall sewer
which also serves, directly or indirectly, at least one
(1)other construction
subdistrict. Such bonds may also be used to finance construction of a treatment
plant, disposal plant, or outfall sewer of the type described in the preceding
sentence.
(2)Bonds issued pursuant to subsection
(1)shall be construction subdistrict obligations
for all construction subdistricts for which they are issued.
(3)Except as provided in this section, bonds authorized by subsection
(1)shall be
governed by KRS 76.254 and 76.261. Such bonds shall be construction subdistrict
bonds within the meaning of paragraph
(a)of subsection
(3)of KRS 76.262. They
shall not be considered construction subdistrict bonds within the meaning of
subsection
(6)of KRS 76.262.