Kentucky Revised Statutes

Ky. Rev. Stat. § 96.390 (2026)

Bonds negotiable and tax-free -- Method of sale -- Payable solely from

✓ current as of May 2026

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revenues. Bonds issued pursuant to KRS 96.370 shall be negotiable and shall not be subject to taxation. If any officer whose signature or countersignature appears on the bonds or coupons ceases to be an officer before delivery of the bonds, his signature or countersignature shall nevertheless be valid and sufficient for all purposes the same as if he had remained in office until delivery. The bonds shall be sold in a manner and upon the terms as the city or urban-county government legislative body deems for the best interest of the city or urban-county government, or any contract for the purchase or acquisition of any waterworks may provide that payment shall be made in bonds. The bonds shall be payable solely from the revenue funds derived from the waterworks as provided in KRS 96.430 and shall not constitute an indebtedness of the city or urban- county government within the meaning of the Constitution. It shall be plainly stated on the face of each bond that it has been issued under the provisions of KRS 96.350 to 96.510 and that it does not constitute an indebtedness of the city or urban-county government within the meaning of the Constitution. Effective: January 1, 2015 History: Amended 2014 Ky. Acts ch. 92, sec. 169, effective January 1, 2015. -- Amended 1996 Ky. Acts ch. 274, sec. 22, effective July 15, 1996. -- Amended 1968 Ky. Acts ch. 110, sec. 12. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 2641l-5, 2741l-27.

Notes of Decisions

Cited in 2 cases, 1944–1952 · leading case: Lynchburg Foundry Co. v. City of Pikeville, 246 S.W.2d 594 (Ky. Ct. App. 1952).

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Lynchburg Foundry Co. v. City of Pikeville, 246 S.W.2d 594 (Ky. Ct. App. 1952). “350 through 96.510 to enter into the same.”

Cole v. McCracken Cnty., 181 S.W.2d 461 (Ky. Ct. App. 1944). “*801 Attention is called in the Bowling Green case to the fact that the bonds are amply secured due to the obligation the Act places on the city to charge rates which are sufficiently above operating expenses to meet the bonds as they mature; and in the event of default, the…”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.