Kentucky Statutes 56.871 – Issuance and sale of certain bonds or notes exempt from provisions of KRS 56.870 to 56.874
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In any case in which the General Assembly has authorized a debt ceiling or a specific appropriation for debt service for a particular agency, authority, board, cabinet, commission, corporation, or other entity of the Commonwealth of Kentucky, the issuance and sale of definitive bonds or temporary bonds or notes necessary and sufficient to attain such debt ceiling or a specific appropriation for debt service shall be exempt from the provisions of KRS § 56.870 to KRS § 56.874.
Effective: July 15, 1980
History: Created 1980 Ky. Acts ch. 96, sec. 2, effective July 15, 1980.
Effective: July 15, 1980
Terms Used In Kentucky Statutes 56.871
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Appropriation: means an authorization by the General Assembly to expend, from public funds, a sum of money not in excess of the sum specified, for the purposes specified in the authorization and under the procedure prescribed in KRS Chapter 48. See Kentucky Statutes 446.010
- Cabinet: means the Finance and Administration Cabinet. See Kentucky Statutes 56.440
- Commission: means the State Property and Buildings Commission. See Kentucky Statutes 56.440
History: Created 1980 Ky. Acts ch. 96, sec. 2, effective July 15, 1980.