Kentucky Statutes 180.110 – Bonds to be secured by lien on bridge revenues — State not to be obligated
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(1) The bonds issued under KRS § 180.070 and interest thereon shall be secured by a first lien on the gross tolls and other revenues of the bridges for which the bonds were issued.
(2) No bonds issued under KRS § 180.070 shall be an obligation of the state, and no lien of any kind shall be given in favor of the bonds upon any bridge or real estate appurtenant thereto.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 4356s-4, 4356s-17.
(2) No bonds issued under KRS § 180.070 shall be an obligation of the state, and no lien of any kind shall be given in favor of the bonds upon any bridge or real estate appurtenant thereto.
Terms Used In Kentucky Statutes 180.110
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 4356s-4, 4356s-17.