157.630 Sale of bonds -- Publication area. - Kentucky Statutes

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157.630 Sale of bonds -- Publication area. Bonds of the commission shall be sold in such form and in such manner as the
commission deems appropriate in accordance with prevailing market conditions. If the
bonds are sold on the basis of sealed bids or proposals, the "publication area," as that term
is used in KRS Chapter 424, shall not be deemed to be the area within which the office of
the commission is situated, but shall be deemed to be the "publication area" of the board
of education executing the lease. If the bonds are sold on the basis of sealed bids or
proposals, the sale shall be publicly advertised by means of a notice conforming to the
provisions of KRS 424.140, and the same shall be published at least one (1) time, at least
seven (7) days in advance of the date set forth for opening bids, in a daily newspaper
having bona fide general circulation throughout the Commonwealth. If such publication
is made, it shall be sufficient for publication in the "publication area" to be made only one
(1) time, at least seven (7) days in advance of the date set forth for the opening of bids. If
a copy of the sale notice be delivered or transmitted in good faith to the qualified
newspaper of the "publication area" in time for publication in an issue thereof published
seven (7) days or more in advance of the date set forth for the opening of bids, and with
direction for publication therein, any failure of such newspaper to make publication as
directed shall not invalidate the sale of the bonds by the commission on the designated
date, nor require postponement or cancellation thereof. Effective: July 13, 1990
History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 387, effective July 13, 1990. -- Created 1985 (1st Extra. Sess.) Ky. Acts ch. 10, sec. 33, effective
October 18, 1985.