66.121 Interest rates -- Issuance subject to call or redemption prior to maturity. - Kentucky Statutes

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Page 1 of 1 66.121 Interest rates -- Issuance subject to call or redemption prior to maturity. (1) Bonds issued by an issuer shall bear interest at a rate or rates as provided for in the legislation authorizing the bonds. Interest payable on the bonds may be determined
at a variable rate or rates, which may change from time to time in accordance with a
base, formula, or standard, including determination at whatever rate is required to
sell or remarket the bonds on the open market, or other floating rate interest
structure, identified or approved by the governing body. (2) An issuer may issue bonds subject to call or redemption prior to maturity at a redemption price as determined by the governing body. Effective: July 15, 1996
History: Created 1996 Ky. Acts ch. 280, sec. 12, effective July 15, 1996.