If there is a default in the payment of the principal or interest of any of the bonds, any court having jurisdiction may appoint a receiver to administer the project on behalf of the city, with power to charge and collect rates for the services rendered and for the use of or admission to the project sufficient to provide for the payment of any bonds or obligations outstanding and for payment of the operating expenses. The receiver shall apply the revenue in conformity with KRS § 97.100 to KRS § 97.240.
Effective: October 1, 1942

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 97.190

  • City: includes town. See Kentucky Statutes 446.010
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.

History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 2741p-20.