178.170 Bonds for hard surface roads -- Issuance. - Kentucky Statutes

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178.170 Bonds for hard surface roads -- Issuance. (1) The fiscal court, after an election as provided in subsection (2), may issue and sell bonds for the purpose of constructing or reconstructing public roads and bridges.
The bonds shall bear interest at a rate or rates or method of determining rates as the
fiscal court determines, be payable at least annually, and shall be in denominations
of not less than one hundred dollars ($100) nor more than one thousand dollars
($1000). The bonds shall mature within forty (40) years, and may be redeemed
within that time at the pleasure of the court. (2) Upon the petition of one hundred and fifty (150) legal voters who are freeholders of the county, the county judge/executive shall make an order on his order book
directing an election to be held in the county at the next regularly-scheduled
November election if the question as it will appear on the ballot is submitted to the
county clerk not later than the second Tuesday in August preceding the regular
election. The order shall direct the sheriff to advertise the election and its object by
publication pursuant to KRS Chapter 424 and also by printed handbills posted at not
less than four (4) public places in each voting precinct in the county and at the
courthouse door. The election shall be held under the general election laws. The
question shall be: "Are you in favor of issuing .... in bonds for the purpose of
building roads and bridges?" (3) All the money raised by the sale of bonds under this section shall be used solely for the construction of hard surface roads. Effective: July 15, 1996
History: Amended 1996 Ky. Acts ch. 195, sec. 66, effective July 15, 1996; and ch. 274, sec. 39, effective July 15, 1996. -- Amended 1980 Ky. Acts ch. 188, sec. 135,
effective June 15, 1980. -- Amended 1978 Ky. Acts ch. 384, sec. 311, effective June
17, 1978. -- Amended 1966 Ky. Acts ch. 239, sec. 154. -- Recodified 1942 Ky. Acts
ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4307. Legislative Research Commission Note (7/15/96). This section was amended by 1996 Ky. Acts chs. 195 and 274. Where these Acts are not in conflict, they have been
codified together. Where a conflict exists, Acts ch. 195, which was last enacted by
the General Assembly, prevails under KRS 446.250.