The board of trustees of a transportation improvement district may provide by resolution for the issuance of bonds of the district, payable solely from pledged revenues, for the purpose of refunding any bonds then outstanding, including the payment of related financing expenses and, if considered advisable by the board, for the additional purpose of paying costs of improvements, extensions, renovations, or enlargements of any project. The issuance of refunding bonds, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties, and obligations of the board in respect to the bonds shall be governed by the provisions of KRS § 184.350 to KRS § 184.395 insofar as they are applicable and by the applicable bond proceedings.
Effective: July 14, 2022
History: Created 2022 Ky. Acts ch. 180, sec. 8, effective July 14, 2022.