2011 Kentucky Revised Statutes CHAPTER 58 ACQUISITION AND DEVELOPMENT OF PUBLIC PROJECTS THROUGH REVENUE BONDS 58.020 Power of governmental agency to acquire or develop public project and issue revenue bonds.
KY Rev Stat § 58.020 (1996 through Reg Sess) What's This?
58.020 Power of governmental agency to acquire or develop public project and
issue revenue bonds.
A governmental agency acting separately or jointly with one (1) or more of any such
agency, may acquire, construct, maintain, add to, and improve any public project as
defined in KRS 58.010, which public project may be located within or without or partly
within and partly without the territorial limits of such governmental agency or agencies,
and for the purpose of defraying the cost thereof may borrow money and issue negotiable
revenue bonds. Before any department or agency of the state government shall borrow
money and issue bonds under KRS 58.010 to 58.140, the head of the department or
agency shall file with the Secretary of State a written order, approved by the Governor,
the Attorney General and the secretary of the Finance and Administration Cabinet, setting
forth the proposed public project, the amount of the bonds to be issued, and the maximum
rate of interest the bonds are to bear. Any governmental agency other than agencies of the
state government may borrow money and issue revenue bonds under KRS 58.010 to
58.140 pursuant to an order, resolution, or ordinance of its legislative or administrative
body, which order, resolution, or ordinance shall set forth the proposed public project, the
amount of the revenue bonds to be issued, and the maximum rate of interest. In every
instance the order, resolution, or ordinance shall provide that the public project is being
undertaken under the provisions of KRS 58.010 to 58.140.
History: Amended 1948 Ky. Acts ch. 226, sec. 1. -- Created 1946 Ky. Acts ch. 126,
sec. 2.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
