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67A.760 Third Ordinance -- Purposes -- Adoption.

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67A.760 Third Ordinance -- Purposes -- Adoption. The governing body shall adopt a Third Ordinance authorizing the sale of the bonds and <br>covenanting with the holders of the bonds and coupons, that until the payment in full <br>thereof the urban-county government will levy annually an improvement assessment upon <br>the affected properties only. The ordinance shall also covenant with the holders of said <br>bonds and coupons, until payment in full thereof, the governing body will pursue and <br>exhaust, at the urban-county government's expense, all remedies available to the urban-<br>county government and for the benefit and protection of the bondholders, including <br>enforcement to judgment and decretal sale of the liens upon affected properties, as <br>provided in KRS 67A.710 to 67A.825. The ordinance shall designate one (1) or more <br>places of payment of principal and interest, within or without the Commonwealth and <br>provide for the payment by the urban-county government of any and all reasonable and <br>customary charges for the services of paying agents, to the end that the holders of the <br>bonds and coupons will receive the sums therein stipulated, without deductions for such <br>charges. The ordinance may contain any other provisions not contrary to law. Effective: June 21, 1974 <br>History: Created 1974 Ky. Acts ch. 394, sec. 11, effective June 21, 1974.