If any district has previously issued bonds secured entirely or partially by the right to levy an assessment as provided by KRS § 74.130 to KRS § 74.230, both inclusive, and such bonds are redeemed prior to maturity, bonds to refund same may be issued secured solely by the revenue of said system in the manner provided in KRS § 74.370.
History: Created 1944 Ky. Acts ch. 141, sec. 2.