General Obligation Bonds For Road Construction  


580. State debt contracted -- Legislative intent for KRS 177.580 to 177.630 -- Approval of people.
585. Bonds to be issued -- Denominations -- Interest -- Coupons -- Payment -- Registration with Finance and Administration Cabinet -- Exemption from state, county and municipal taxation -- Cost of printing.
590. Serial numbers -- Maturity dates.
595. Full faith and credit of state pledged -- Funds derived from certain taxes to be set aside in amount sufficient to pay principal and interest -- Exception.
600. Time of sale -- Units.
605. Advertisements for bids before sale of bonds -- Bids to be in writing and sealed -- Opening of bids -- Rejection -- Premium and accrued interest to be deposited in sinking fund -- Destruction of matured coupons -- Cost of advertising.
610. Terms for bonds.
615. Investment or deposit of amounts received for sinking fund.
620. Investment or deposit of proceeds derived from sale of bonds -- Use of proceeds.
625. Repealed, 1986. [Repealed]
630. "Year" defined.
700. Efforts to sell authorized and unissued bonds under existing restrictions to be continued -- If effort unsuccessful, proposal to remove interest rate limit to be submitted to voters at an election.
710. Commonwealth to contract additional indebtedness not to exceed one hundred million dollars for parks, and for highways, bridges and tunnels -- Submission to voters at an election on November 8, 1960, according to Section 50 of the Constitution.
720. Bonds for park purposes and bonds for highways, bridges and tunnels to be designated distinguishably -- Separation of proceeds.
730. Bonds for park purposes and bonds for highways, bridges and tunnels to have separate sources of payment of principal and interest -- Provisions for levying taxes as required by the Constitution.
740. Form of question for ballots if bonds not sold prior to August 31, 1960.
750. Form of question for ballots if bonds are sold prior to August 31, 1960.
760. Submission of question to the people -- Duties of Secretary of State.
770. Election held in conjunction with general election.
780. Sale of bonds -- Conditions.
790. Bonds to mature in thirty years -- Other details to be established by the State Property and Buildings Commission.
800. Bonds to be sold at public sale or sales -- Manner of advertising -- Interest rates to be established by the commission and may be determined on basis of competition.
810. Bonds exempt from taxation -- Designation of signing officers -- Temporary bonds or certificates -- No other approvals required.
820. "Year" defined.