The city may issue refunding bonds to provide funds for the payment of any outstanding bonds, in accordance with the procedure prescribed for the issuance of the original bonds. The refunding bonds shall be secured to the same extent and shall have the same source of payment as the bonds which are refunded.
KRS 162.260
Refunding bonds may be issued
Applied in 2 court decisions — leading case Morgan v. Fayette County Board of Education (1943)
Most recently applied in Hemlepp v. Aronberg (June 1963)
Effective: July 13, 1990 History: Amended 1990 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.