Kentucky Statutes 58.120 – Bonds for extensions and improvements
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Any governmental agency acquiring any public project pursuant to the provisions of KRS
58.010 to 58.140 may, at the time of issuing the bonds for such acquisition, provide for additional bonds for extensions and permanent improvements to be placed in escrow and to be negotiated from time to time as proceeds for that purpose may be necessary. Bonds placed in escrow shall, when negotiated, have equal standing with bonds of the same issue.
History: Created 1946 Ky. Acts ch. 126, sec. 12.
58.010 to 58.140 may, at the time of issuing the bonds for such acquisition, provide for additional bonds for extensions and permanent improvements to be placed in escrow and to be negotiated from time to time as proceeds for that purpose may be necessary. Bonds placed in escrow shall, when negotiated, have equal standing with bonds of the same issue.
Terms Used In Kentucky Statutes 58.120
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
History: Created 1946 Ky. Acts ch. 126, sec. 12.