The department may collect tolls and fix toll rates for a period of time sufficient to pay off the principal and interest on bonds issued under KRS 180.070. When the bonds mature, payment shall be made to the holders out of revenue derived from bridges or as provided in subsection (2) of KRS 180.130. The rate of tolls to be collected, if fixed in any bonds, shall not be reduced without the consent of the holders of the bonds.
KRS 180.090
Bonds may be paid out of tolls -- How tolls may be reduced
Applied in 1 court decision — leading case Com Ex Rel. Meredith Atty. Gen. v. Donaldson (1942)
Most recently applied in Com Ex Rel. Meredith Atty. Gen. v. Donaldson (November 1942)
Effective: October 1, 1942 History: Recodified 1942 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.