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40.200 Commission's power to fix details of bonds.
All bonds issued hereunder shall be dated July 1, 1960, and shall mature on or prior
to thirty (30) years from such date as the State Property and Buildings Commission
may provide in each resolution authorizing the issuance and sale of such bonds. The
State Property and Buildings Commission shall in each such resolution determine
other details, including whether the bonds shall be of term or serial maturities, and
the amount which shall mature on any serial maturity date; denominations; whether
the bonds, or any of them, shall be subject to redemption prior to stated maturities
and upon what terms; place or places of payment of principal and interest, which
may be within the Commonwealth or outside thereof; whether the bonds shall have
semiannual interest coupons annexed; be registered or registrable as to principal or
interest, or both; and any other details not contrary to law or inconsistent with this
chapter which in the discretion of the said commission may appear wise and
expedient. The commission shall fix and establish the interest rate or rates for each
issue of bonds, and interest shall be payable semiannually. Each sale shall be
advertised pursuant to KRS Chapter 424 and by at least one (1) publication in a
financial newspaper or journal published in the City and State of New York.
History: Amended 1966 Ky. Acts ch. 239, sec. 2. -- Created 1960 Ky. Acts ch. 15,
sec. 23, effective February 20, 1960.
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