165.090 Sale of bonds -- Disposition of proceeds. - Kentucky Statutes

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165.090 Sale of bonds -- Disposition of proceeds. Bonds issued under authority of KRS 165.080 shall be placed under the control of the
president and trustees of the university, who shall determine when and at what price they
shall be sold, but no bonds shall be sold for less than par. Any premium obtained from the
bonds shall constitute a part of the sinking fund for their ultimate redemption. The
proceeds of the bonds shall be deposited to the credit of the university in the depositories
that are selected for the deposit of the funds of the sinking fund commissioners of the
city, upon the same agreement as to interest, and shall be withdrawn upon the checks of
the treasurer of the university, countersigned by the president thereof. Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 2948b-5.