Kentucky Statutes 181.730 – Application of, and lien on, proceeds of bonds
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All money received from the sale of bonds issued under KRS § 181.660 to KRS § 181.720 shall be applied solely to the payment of the cost of the bridge or to the appurtenant sinking fund, and the holders of the bonds or the trustee, as provided in KRS § 181.740, shall have a lien upon such money until it is so applied.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 3235g-18.
Effective: October 1, 1942
Terms Used In Kentucky Statutes 181.730
- Bridge: includes the bridge and the approaches thereto. See Kentucky Statutes 181.010
- Lien: A claim against real or personal property in satisfaction of a debt.
- Trustee: A person or institution holding and administering property in trust.
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 3235g-18.