107.100 Sale of bonds authorized by KRS 107.090 -- Sealed bids -- Advertisement. - Kentucky Statutes

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107.100 Sale of bonds authorized by KRS 107.090 -- Sealed bids -- Advertisement. After the third ordinance has been adopted (and without regard for its date of
publication), the city may solicit the submission of bids or proposals for the purchasing of
the bonds authorized by the third ordinance, the same to be received upon a sealed
competitive basis after advertisement by publication pursuant to KRS Chapter 424. Such
bids or proposals may be solicited on the basis of competition as to price and/or interest
coupon rates, as may be specified in the published notice, and bids offering less than the
par or face value of the bonds may be considered and accepted if so stated in the
published notice of the sale. If no bids are received upon terms acceptable to the
governing body and conforming to the published notice, bids may again be solicited by
similar published notice, until a purchase bid is received upon terms acceptable to the
governing body, but the bonds, or a portion thereof, may be awarded to a contractor, or
contractors, as provided in KRS 107.200. History: Amended 1966 Ky. Acts ch. 239, sec 122. -- Created 1956 Ky. Acts ch. 239, sec. 10.