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67.500 Bonds, negotiable, nontaxable, payment.

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67.500 Bonds, negotiable, nontaxable, payment. All bonds issued under the provisions of KRS 67.450 to 67.550 shall have all of the <br>qualities of negotiable instruments and shall not be subject to taxation. If any of the <br>officers whose signatures appear on the bonds or coupons cease to be such officers before <br>delivery of the bonds, the signatures shall nevertheless be valid for all purposes, the same <br>as if the officers had remained in office until delivery. The bonds shall be payable solely <br>from revenue derived from the building, as provided in KRS 67.520, and shall not <br>constitute an indebtedness of the county buildings commission within the meaning of the <br>constitutional provisions or limitations. It shall be plainly stated on the face of each bond <br>that it was issued under the provisions of KRS 67.450 to 67.550 and does not constitute <br>an indebtedness of the county buildings commission. History: Created 1962 Ky. Acts ch. 224, sec. 11.