State Codes and Statutes

State Codes and Statutes

Statutes > Kentucky > 074-00 > 330

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74.330 Issuance -- Form of bonds -- Signatures. Refunding bonds shall be issued under the signature of the chairman of the commission, <br>the countersignature of the treasurer of the commission, and the seal of the district. The <br>bonds shall be serially numbered. The commission shall prescribe the form and <br>denominations of the bonds, and the time, not exceeding forty (40) years, at which they <br>will mature and be redeemable. The bonds shall bear interest at a rate or rates or method <br>of determining rates as the commission directs, be payable at least annually, and shall <br>have interest coupons attached. The proceeds of the bonds shall be used exclusively for <br>the refunding of bonded debts. In case any officer whose signature or countersignature <br>appears on the bonds or coupons ceases to be an officer before delivery of the bonds, his <br>signature or countersignature shall nevertheless be valid the same as if he had been in <br>office until delivery. Effective: July 15, 2008 <br>History: Amended 2008 Ky. Acts ch. 6, sec. 9, effective July 15, 2008. -- Amended 1996 Ky. Acts ch. 274, sec. 9, effective July 15, 1996. -- Amended 1968 Ky. Acts <br>ch. 110, sec. 7. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, <br>1942, from Ky. Stat. sec. 938g-29.