Kentucky Revised Statutes

Ky. Rev. Stat. § 162.180 (2026)

Bonds -- Interest on -- When payable -- How sold

✓ current as of May 2026

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All bonds issued under the provisions of KRS 162.170 for common school purposes may bear interest at a rate or rates or method of determining rates, payable at least annually, and shall be executed in a manner and be payable at times, not exceeding thirty (30) years from the date of issue, and at a place as the governing body of the city determines. The bonds shall be sold in a manner and upon terms as the governing body of the city deems for the best interest of the city. Effective: July 15, 1996 History: Amended 1996 Ky. Acts ch. 274, sec. 35, effective July 15, 1996. -- Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 559, effective July 13, 1990. -- Amended 1978 Ky. Acts ch. 155, sec. 82, effective June 17, 1978. -- Amended 1970 Ky. Acts ch. 137, sec. 2. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4421-7, 4421-8.

Notes of Decisions

Cited in 3 cases, 1943–1969 · leading case: City of Bowling Green v. Board of Education

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City of Bowling Green v. Bd. of Educ., 443 S.W.2d 243 (Ky. Ct. App. 1969). · cites it 2× “The 6% per annum interest rate limitation prescribed by KRS 162.180 is shown to be the reason for the failure to receive bids.”

Fendley v. Bd. of Educ., 240 S.W.2d 837 (Ky. Ct. App. 1951). “120 to 300, and since KRS 162.180 provides that revenue bonds shall mature within a period of 30 years, the special tax approved in this case might be levied only for that period of time.”

Morgan v. Fayette Cnty. Bd. of Educ., 172 S.W.2d 64 (Ky. Ct. App. 1943). “If more specific authority should be desired, it would seem to exist in the provision of KRS 162.180, a part of the statute particularly involved in this case, namely, “the bonds shall be sold in such manner and upon such terms as the governing body of the city deems for the…”

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