Kentucky Statutes 220.490 – Original issue may include bonds for additions and improvements
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Any sanitation district acquiring any works pursuant to the provisions of KRS § 220.010 to
220.520 may, at the time of issuing the bonds for such acquisition, authorize the issuance of 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 are necessary. Such bonds, when so negotiated, shall 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. sec. 2062g-51.
220.520 may, at the time of issuing the bonds for such acquisition, authorize the issuance of 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 are necessary. Such bonds, when so negotiated, shall have equal standing with the bonds of the same issue.
Terms Used In Kentucky Statutes 220.490
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 2062g-51.