Any municipality is hereby authorized and empowered to issue general obligation bonds under the limitations imposed by Section 158 of the Constitution for carrying out the purposes of KRS § 96.550 to KRS § 96.900, but general obligation bonds shall not be issued for such purposes without the assent of two-thirds (2/3) of the voters voting in an election conducted in the manner set out in KRS § 96.640.
History: Created 1942 Ky. Acts ch. 18, sec. 28.

lawyer at desk

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Kentucky Statutes 96.850

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  Previous section
Next section  
 Chapter 96 Contents