Kentucky Revised Statutes

Ky. Rev. Stat. § 66.320 (2026)

Assistance to counties in reorganizing debt structure -- Investigation of debt

✓ current as of May 2026

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situation. Any county, upon petition of its fiscal court, is entitled as a matter of right to the assistance of the state local debt officer in formulating a plan for reorganizing its debt structure. When any county is in default on the principal or interest of any indebtedness, or gives evidence of becoming unable to meet principal or interest maturities on any funded indebtedness within a reasonable time, or has an indebtedness which might, with advantage to the county, be funded or refunded, the state local debt officer may investigate the debt situation and credit standing of the county and negotiate with officials and creditors of the county for the purpose of formulating a plan for issuing or reissuing bonds. Effective: July 15, 1994 History: Amended 1994 Ky. Acts ch. 508, sec. 30, effective July 15, 1994. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 938q-5.

Notes of Decisions

Cited in 1 case, 1943–1943 · leading case: Lincoln Nat'l Bank, Inc. v. Cnty. Debt Comm'n, 172 S.W.2d 463 (Ky. Ct. App. 1943).

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Lincoln Nat'l Bank, Inc. v. Cnty. Debt Comm'n, 172 S.W.2d 463 (Ky. Ct. App. 1943). “When the fiscal court of any county has petitioned the State Local Finance Officer under KRS 66.320 for assistance in formulating a plan for reorganizing its debt structure, or has received the approval of any issue or reissue of county bonds voluntarily as provided in this…”

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