Code · Kentucky · Chapter 97 — Parks, playgrounds, and recreation

97.220 Refunding and additional bonds.

93 words·~1 min read·/ky/chapter-97/97-220

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

(1)The city may issue new bonds for the purpose of providing funds for the payment of

any outstanding bonds, subject to the procedure described in KRS 97.100 to 97.240.

The new bonds shall be secured to the same extent and shall have the same source

of payment as the bonds that are refunded.

(2)If the legislative body of the city finds that the original bonds authorized will be

insufficient to accomplish the purpose desired, additional bonds may be authorized

and issued subject to the procedure described in KRS 97.100 to 97.240.