Kentucky Statutes 96.490 – Bonds for extensions and improvements
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Any city acquiring any waterworks pursuant to the provisions of KRS § 96.350 to KRS § 96.510 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, or the city may, at any time, provide for the extension, addition or improvement of the waterworks by an additional issue of bonds. Bonds placed in escrow shall, when negotiated, have equal standing with the bonds of the same issue.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 2741L-15, 2741L-16, 2741L-37, 2741L-38.
Effective: October 1, 1942
Terms Used In Kentucky Statutes 96.490
- City: includes town. See Kentucky Statutes 446.010
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 2741L-15, 2741L-16, 2741L-37, 2741L-38.