66.041 Maximum percentages of net indebtedness.
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66.041 Maximum percentages of net indebtedness.
(1) A city, urban-county, consolidated local government, or charter county shall not
incur net indebtedness to an amount exceeding the following maximum percentages <br>on the value of taxable property within the city, urban-county, consolidated local <br>government, or charter county, as estimated by the last certified assessment <br>previous to the incurring of the indebtedness: <br>(a) Cities, urban-counties, consolidated local governments, and charter counties
having a population of fifteen thousand (15,000) or more, ten percent (10%);
(b) Cities, urban-counties, and charter counties having a population of less than
fifteen thousand (15,000) but not less than three thousand, five percent (5%); <br>and
(c) Cities, urban-counties, and charter counties having a population of less than
three thousand (3,000), three percent (3%).
(2) A county, which is not an urban-county, consolidated local government, or charter
county, or a taxing district shall not incur net indebtedness for all purposes that <br>exceeds an amount equal to two percent (2%) of the value of the taxable property <br>within the county or district, as estimated by the last certified assessment previous <br>to the incurring of the indebtedness.
Effective: July 15, 2002 <br>History: Amended 2002 Ky. Acts ch. 346, sec. 37, effective July 15, 2002. -- Created
1996 Ky. Acts ch. 280, sec. 4, effective July 15, 1996.
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