If the question submitting KRS § 177.700 to KRS § 177.820 to the people at said election on November 8, 1960, shall have been in the form set forth in KRS § 177.740, then from and after the proclaiming by the Governor that KRS § 177.700 to KRS § 177.820 has been approved and is in effect, any unissued bonds of the issue for highways, bridges and tunnels, as proposed by KRS § 177.580 to KRS § 177.630, approved and authorized by the voters at the election held on November 6, 1956, as aforesaid, may be sold and issued by the commission, at one (1) time or from time to time, in strict conformity with all provisions of said KRS § 177.580 to KRS § 177.630, with the sole exception that pursuant to the voters’ authorization and approval of KRS § 177.700 to KRS § 177.820, the heretofore prevailing interest rate limitation of three percent (3%) per annum may be disregarded and any or all of said bonds may be sold and issued to bear any interest rate or not exceeding the then prevailing maximum rate as prescribed by statute in and for the Commonwealth generally.
Effective: June 16, 1960
History: Created 1960 Ky. Acts ch. 106, sec. 10, effective June 16, 1960.