There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 220 SANITATION DISTRICTS
220.400 Negotiability of bonds -- Tax exemption -- Signature -- How sold -- Not a debt.
Download pdfshall not be subject to taxation. If any officer whose signature appears on the bonds or
coupons ceases to be an officer before delivery of the bonds, his signature shall
nevertheless be valid and sufficient for all purposes the same as if he had remained in
office until delivery. The bonds shall be sold in a manner and upon terms as the board of
directors deem for the best interest of the district. The bonds shall be payable solely from
the revenue funds derived from the rentals from services rendered by the district to the
inhabitants, as provided in KRS 220.510, and shall not constitute an indebtedness of the
district within the meaning of the Constitution. It shall be plainly stated on the face of
each bond that it has been issued under the provisions of KRS 220.010 to 220.520, and
that it does not constitute an indebtedness of the district within the meaning of the
Constitution. Effective: July 15, 1996
History: Amended 1996 Ky. Acts ch. 274, sec. 54, effective July 15, 1996. -- Amended 1968 Ky. Acts ch. 110, sec. 24. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective
October 1, 1942, from Ky. Stat. sec. 2062g-41.
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