162.620 Sale of bonds -- Conditions. - Kentucky Statutes

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162.620 Sale of bonds -- Conditions. Bonds of the authority shall be sold only upon the basis of sealed bids or proposals,
publicly solicited, received, opened and acted upon. 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 authority is situated, but shall be deemed to be the "publication area" of the board of
education executing the lease. Each sale shall be publicly advertised by means of a notice
conforming to the provisions of KRS 424.140(3), 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, notwithstanding provisions for publication more often as provided in
KRS Chapter 424. 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 authority 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History: Repealed and reenacted 1990 Ky.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. 590, effective July 13, 1990. -- Created 1960 Ky. Acts ch. 81, sec. 12, effective June 16, 1960.