Subject to the will of any General Assembly and Sections 176 and 177 of the Constitution, the fiscal court of a county levying the full percentage of the occupational license fee authorized for nonschool purposes by KRS § 68.180 may pledge no more than twelve percent (12%) of the revenue annually to be derived therefrom as security for special obligations bonds of the fiscal court for any public improvement within the scope of KRS § 66.510 to KRS § 66.543. The bonds shall not be obligations of the county but merely of the special fund made up of the pledged fees. No election under Sections 157 and 159 of the Constitution shall be required for said bonds. In all other respects the bonds shall be deemed to have been authorized and issued pursuant to KRS Chapter 66.
Effective: July 15, 1996
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Terms Used In Kentucky Statutes 66.530

  • Bonds: means bonds, notes, commercial paper, and other instruments in writing, authorized by or issued pursuant to or in accordance with this chapter, to evidence an obligation to repay or guarantee the repayment of money borrowed, or to pay interest by, or to pay at any future time other money obligations. See Kentucky Statutes 66.011

History: Amended 1996 Ky. Acts ch. 280, sec. 26, effective July 15, 1996. — Created
1966 Ky. Acts ch. 232, sec. 8.

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