106.050 Authority to borrow money and issue bonds. - Kentucky Statutes

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106.050 Authority to borrow money and issue bonds. For the purpose of defraying the cost of acquiring by condemnation, purchase or
construction any such waterworks, including real and personal property of same and
appurtenances or extensions thereto, the water district or the city may borrow money and
issue negotiable bonds, but only after a resolution has been adopted by the water district
commissioners or an ordinance has been adopted by the legislative body of the said city
specifying the proposed undertaking, the amount of bonds to be issued and the maximum
rate of interest the bonds are to bear. Effective: June 17, 1954
History: Created 1954 Ky. Acts ch. 18, sec. 5, effective June 17, 1954.