81.440 Obligations and special taxes are unimpaired. - Kentucky Statutes

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81.440 Obligations and special taxes are unimpaired. A merger or consolidation shall not impair contractual obligations of either of the
combined cities. Tax levies authorized for the payment of interest and the retirement of
bonds or to create sinking funds for such purposes shall continue to be levied and
collected over the same area by and for the new governing body in accordance with the
laws under which the levies were originally made until all bonded obligations of the old
city have been retired. Effective: March 25, 1960
History: Created 1960 Ky. Acts ch. 194, sec. 6, effective March 25, 1960.