Ky. Rev. Stat. Ann. ch. 66 – Issuance Of Bonds And Control Of Funds | Midpage

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Kentucky Revised Statutes

Chapter 66

Ky. Rev. Stat. Ann. ch. 66

Issuance Of Bonds And Control Of Funds

Commonwealth of Kentucky

66.011Definitions for chapter.66.021Bonds as negotiable instruments -- Presumption of validity.66.031Calculation of net indebtedness of issuer.66.041Maximum percentages of net indebtedness.66.045State local debt officer may provide technical and advisory assistance on issuance of bonds.66.051Purposes for issuance of bonds -- Principal amount maximum.66.061Bonds for public projects -- Credit enhancement facilities agreements.66.071Capitalized interest in bonds -- Financing costs.66.081Maintenance of sinking funds.66.091Maturity period of bonds.66.101Contents of legislation authorizing issuance.66.111Tax levy and budget appropriation to pay bond debt charges.66.121Interest rates -- Issuance subject to call or redemption prior to maturity.66.131Signature on behalf of issuer -- Use of interest coupons.66.141Manner of sale of bonds or notes.66.151Deposit and crediting of proceeds.66.161Issuing bonds or obligations to fund or refund outstanding bonds.66.171Register of fully-registered bonds -- Payment of debt charges -- Transfers or exchanges.66.181Registration of coupon bonds -- Transfers.66.191Complaint for validation of bonds -- Proceedings.66.310Approval of county bonds.66.320Assistance to counties in reorganizing debt structure -- Investigation of debt situation.66.370Surrender of sinking fund assets to county sinking fund -- Administration of fund.66.400Municipalities may go into bankruptcy -- Approval of state local debt officer and state local finance officer required for county -- Municipality may not file if delinquent in contributions to retirement system -- Liens on bonds or leases -- Public property exempt from seizure -- Judgments against local government -- Exceptions. (Effective April 1, 2021)66.470Purchases by political subdivisions from United States government.66.480Investment of public funds -- Limitations -- Written investment policy -- Duties of state local debt officer -- Investment pool -- Rating agency.66.510County public improvements finance board (Counties of 300,000 imposing license fees).66.513Members of board -- Appointment -- Terms -- Bond.66.517Powers of board.66.520Facilities of state concern enumerated -- Appropriation by county of more than 300,000 for.66.523Public improvements financing plan -- Contents -- Implementation -- Annual report of board.66.527Indebtedness of board, how secured -- Refunding of obligations -- Negotiability.66.530Pledge of proceeds of license tax by county for public improvement -- Limitations -- Effect of bonds.66.533KRS 66.310 not applicable to appropriations under KRS 66.520.66.537Employment of staff by board -- Administrative expenses.66.540Agreement of board and sinking fund commissioners of city for common use of employees.66.543Investments by board.66.660Regulation of crosswalks, curbs and gutters -- Wheelchair ramps.66.990Penalties.