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96.420 Receiver.

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96.420 Receiver. If there is any default in the payment of the principal or interest of any bond, any court <br>having jurisdiction of the action may appoint a receiver to administer the waterworks on <br>behalf of the city, with power to charge and collect rates sufficient to provide for the <br>payment of any bonds or obligations outstanding against the waterworks and for the <br>payment of the operating expenses, and to apply the income and revenue in conformity <br>with KRS 96.350 to 96.510 and the ordinance referred to in KRS 96.430. Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 2741L-8, 2741L-30.