103.240 Use of proceeds of bonds. - Kentucky Statutes

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103.240 Use of proceeds of bonds. All money received from the sale of the bonds shall be applied solely for:
(1) The acquisition of the industrial building and any utilities or pollution control structures or equipment requisite to the use thereof; (2) The acquisition of pollution control facilities and the structures or equipment requisite to the use thereof; (3) The necessary expense of preparing, printing and selling said bonds;
(4) The refunding of any issued and outstanding bonds whether matured or otherwise;
(5) Providing a debt service reserve fund or any other reserve funds, if necessary; or
(6) To advance the payment of interest on the bonds during any portion of the first three (3) years following the date of the bonds. Effective: July 13, 1984
History: Amended 1984 Ky. Acts ch. 122, sec. 5, effective July 13, 1984. -- Amended 1970 Ky. Acts ch. 64, sec. 5. -- Amended 1966 Ky. Acts ch. 119, sec. 2(1). --
Created 1946 Ky. Acts ch. 58, sec. 5.