<br><br>74.370 Construction, acquisition or enlargement of system by issuance of revenue <br>bonds or by a combination of bonds and assessments. <br>(1) Any water district, created in the manner provided in KRS 74.010 to 74.070, both <br>inclusive, may if the commissioners of such water district deem it feasible, build, or <br>acquire or enlarge a water system without resort to, or in combination with, the right <br>to levy assessments for the cost of such water system, as is provided in KRS 74.130 <br>to 74.240, both inclusive, and may obtain the funds with which to build, acquire or <br>enlarge such system by the issuance of revenue bonds, payable solely from the <br>revenue to be derived from the operation of such system, or payable partially from <br>revenues and partially from assessments. <br>(2) In the event the commissioners shall decide to finance the cost of such construction, <br>acquisition or enlargement by the issuance of revenue bonds, secured solely by the <br>revenue of the system or partially by the revenue of the system and partially by <br>assessments, the commission shall note such decision by appropriate resolution, and <br>shall thereafter proceed under the provisions of KRS 96.350 to 96.510, both <br>inclusive, and the water district and the commission shall have the same powers and <br>duties as a city of the second to sixth class inclusive under the provisions of KRS <br>96.350 to 96.510, both inclusive. However, the water district and the commission <br>shall not be limited solely to the revenue of the system in securing revenue bonds so <br>issued. <br>Effective: July 15, 2008 <br>History: Amended 2008 Ky. Acts ch. 6, sec. 12, effective July 15, 2008. -- Amended <br>1988 Ky. Acts ch. 104, sec. 6, effective July 15, 1988. -- Created 1944 Ky. Acts <br>ch. 141, sec. 1. <br><br>