184.250 Form of apportionment warrants -- Sale. - Kentucky Statutes

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184.250 Form of apportionment warrants -- Sale. In the event that the board of directors determines to issue apportionment warrants, the
warrants shall be issued against each parcel of property against which there is a lien for an
unpaid balance of the assessment, shall bear interest at the rate or rates or method of
determining rates deemed proper by the board, be payable at least annually, and shall be
payable, as to principal, in nine (9) equal installments. The apportionment warrants may
be sold at public or private sale at a price or prices determined by the board of directors or
to the contractor, who must accept the same in full payment of the assessments which
they represent. The apportionment warrants shall be executed by the chairman and the
secretary of the board of directors and may be sold either at public or private sale. Effective: July 15, 1996
History: Amended 1996 Ky. Acts ch. 274, sec. 47, effective July 15, 1996. -- Created 1942 Ky. Acts ch. 65, sec. 25.