58.570 Bonds may be secured by indenture. - Kentucky Statutes

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58.570 Bonds may be secured by indenture. In the discretion of the authority, any bonds issued under the provisions of KRS 58.500 to
58.590 may be secured by a trust indenture by and between the authority and a corporate
trustee, which may be any trust company or bank having the powers of a trust company in
the Commonwealth. If obtainable, insurance adequate to cover the unpaid amount of
outstanding revenue bonds shall be carried on the improvements of Churchill Downs. All
expenses incurred in carrying out the provisions of such trust indenture or proceedings
may be treated as a part of the cost of the operation of the project. Effective: June 17, 1978
History: Created 1978 Ky. Acts ch. 111, sec. 8, effective June 17, 1978.