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268.440 Payment in advance of full assessment levied.
(1)
(2)
At any time prior to the issuance of the bonds, any person may pay in one lump sum
the full amount of the assessment levied against his property, less the amount added
thereto to meet interest. The secretary of the board shall then enter upon the district
assessment record opposite each tract for which payment is made the words "paid in
full" and such assessment shall be deemed satisfied. The secretary shall also make
the same entry opposite each tract for which payment is made in the table included
in the certificate filed in the office of the county clerk. However, this payment shall
not prevent the levying of additional or maintenance assessments against the
property.
At any time after the issuance of the bonds, the board may receive from any owner
payment in full of the unpaid portion of the minimum district assessment against his
property, if arrangements can be made with the bondowners for the surrender and
retirement of an amount of bonds, with coupons attached, equal in principal to the
amount of the lump payment, and if the transaction will cause no present or future
shortage of funds for payment of coupons and the retiring of maturing bonds.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 2380b-45, 2380b-45a.
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