2014 Kentucky Revised Statutes
CHAPTER 162 - SCHOOL PROPERTY AND BUILDINGS
162.600 Bonds to issue in name of authority -- Identification -- Investment designation.
Download as PDF
<![CDATA[162.600 Bonds to issue in name of authority -- Identification -- Investment
designation.
(1)
(2)
(3)
Bonds of the authority shall be issued in the name of the authority, shall be
designated "school building revenue bonds," or, if appropriate, "school building
revenue refunding bonds," and shall additionally be identified by the name of
the board of education executing the lease. If the authority shall issue more
than one (1) series of bonds for the same lessee from time to time, each
series, including the first or subsequent to the first, shall additionally be
identified distinctly by alphabetical or chronological designation, by date of the
bonds, or otherwise as the authority may determine.
For the purposes of determining any limit prescribed by any law for investment
of any public funds, or funds of banks, trust companies, insurance companies,
building and loan associations, credit unions, pension and retirement funds,
and fiduciaries, in obligations of a single obligor, bonds issued by the authority
pursuant to KRS 162.520 to 162.620 shall not be deemed to be bonds or
obligations of the same obligor except to the aggregate of all series of bonds
involving leases of a single board of education.
Bonds issued by the authority under the provisions of KRS 162.520 to 162.620
are hereby made securities in which all public officers and public bodies of the
Commonwealth and its political subdivisions, all insurance companies, trust
companies, banking associations, investment companies, executors, trustees,
and other fiduciaries, and all other persons whatsoever who are now or may
hereafter be authorized to invest in bonds or other obligations of a similar
nature may properly and legally invest funds, including capital in their control or
belonging to them. Such bonds are hereby made securities which may properly
and legally be deposited with and received by any state or municipal officer or
any agency or political subdivision of the Commonwealth for any purpose for
which the deposit of bonds or other obligations of the Commonwealth is now or
may hereafter be authorized by law.
Effective:July 13, 1990
History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 589, effective
July 13, 1990. -- Created 1960 Ky. Acts ch. 81, sec. 10, effective June 16, 1960.
]]>
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.
