180.160 Department may impose and agree to conditions in sale of bonds -- Duration of contract. - Kentucky Statutes

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180.160 Department may impose and agree to conditions in sale of bonds -- Duration of contract. The department may impose such conditions as it deems best in any contract for the sale
of the bonds, and may assent in the contract to reasonable conditions imposed upon the
department in its issuance and delivery of the bonds. The conditions may include a
covenant of the department that within the period the purchasers are required or permitted
to accept and pay for bonds purchased but remaining undelivered, and for six (6) months
thereafter, the department will not advertise for sale, sell or issue any bonds or other
obligations payable from bridge tolls without the purchasers' consent. No such covenant
shall extend beyond the biennial period in which the contract is made. Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4356s-19.