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KRS 180.150

Bonds not to be delivered until conditions are met

Effective: October 1, 1942 History: Recodified 1942 Ky

(1) No bonds issued under KRS 180.070 shall be delivered unless the conditions required by KRS 180.040 exist.

(2) If any contract for the sale of the bonds provides that the amount of bonds purchased shall be computed upon the basis of a traffic survey or estimate based upon the happening of specified traffic conditions, no bonds to pay any of the cost of the bridge for which the bonds are to be issued shall be delivered until the happening of such conditions or the appropriation and allocation of sufficient funds for the happening thereof, unless the original purchasers consent to delivery.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.