96.195 City of the fourth class may issue interest-bearing warrants for improvements and extensions to electric power plants or waterworks. - Kentucky Statutes

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96.195 City of the fourth class may issue interest-bearing warrants for improvements and extensions to electric power plants or waterworks. Municipal corporations of the fourth class in the Commonwealth of Kentucky which own
and operate municipal electric power plants or waterworks are authorized to issue
interest-bearing warrants in payment for extensions and improvements to electric power
plants or waterworks. The warrants shall bear interest at the rate or rates or method of
determining rates as the legislative body of the municipal corporation determines and be
due not more than five (5) years from date. They shall be payable only out of the income
from the operation of the electric power plants or waterworks. Effective: July 15, 1996
History: Amended 1996 Ky. Acts ch. 274, sec. 20, effective July 15, 1996. -- Created 1946 Ky. Acts ch. 241, sec. 1.