65.7703 Authority to borrow money in anticipation of taxes or revenues -- Notes to
be payable only by appropriation.
A governmental agency shall have power and authority, by legislation duly adopted, to <br>borrow moneys from time to time in any fiscal year in anticipation of the receipt of <br>current taxes or revenues, or both, to evidence the obligation by notes, appropriately <br>designated, and to authorize, issue, and sell notes in the manner, and subject to the <br>limitations provided in KRS 65.7703 to 65.7721. Notes shall be payable only from <br>moneys appropriated by the governing body of the governmental agency. The power to <br>borrow from time to time shall include, but not be limited to, the power to make a single <br>authorization and issue and sell portions of the amount of authorized notes whenever <br>desired during the fiscal year.
Effective: July 13, 1990 <br>History: Created 1990 Ky. Acts ch. 76, sec. 2, effective July 13, 1990.
65.7703 Authority to borrow money in anticipation of taxes or revenues -- Notes to
be payable only by appropriation.
A governmental agency shall have power and authority, by legislation duly adopted, to <br>borrow moneys from time to time in any fiscal year in anticipation of the receipt of <br>current taxes or revenues, or both, to evidence the obligation by notes, appropriately <br>designated, and to authorize, issue, and sell notes in the manner, and subject to the <br>limitations provided in KRS 65.7703 to 65.7721. Notes shall be payable only from <br>moneys appropriated by the governing body of the governmental agency. The power to <br>borrow from time to time shall include, but not be limited to, the power to make a single <br>authorization and issue and sell portions of the amount of authorized notes whenever <br>desired during the fiscal year.
Effective: July 13, 1990 <br>History: Created 1990 Ky. Acts ch. 76, sec. 2, effective July 13, 1990.
65.7703 Authority to borrow money in anticipation of taxes or revenues -- Notes to
be payable only by appropriation.
A governmental agency shall have power and authority, by legislation duly adopted, to <br>borrow moneys from time to time in any fiscal year in anticipation of the receipt of <br>current taxes or revenues, or both, to evidence the obligation by notes, appropriately <br>designated, and to authorize, issue, and sell notes in the manner, and subject to the <br>limitations provided in KRS 65.7703 to 65.7721. Notes shall be payable only from <br>moneys appropriated by the governing body of the governmental agency. The power to <br>borrow from time to time shall include, but not be limited to, the power to make a single <br>authorization and issue and sell portions of the amount of authorized notes whenever <br>desired during the fiscal year.
Effective: July 13, 1990 <br>History: Created 1990 Ky. Acts ch. 76, sec. 2, effective July 13, 1990.
