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96A.150 Bond anticipation notes.

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96A.150 Bond anticipation notes. When an authority has made a determination, as a matter of record, that it will authorize <br>and issue in its own name revenue bonds under authority of subsection (2) of KRS <br>96A.120, or mortgage bonds under authority of subsection (3) of KRS 96A.120, such <br>authority may obtain interim construction or acquisition financing moneys through the <br>authorization and issuance of its revenue bond anticipation notes, or its mortgage bond <br>anticipation notes, as the case may be, the same to be shown in the text thereof to be <br>payable as to principal and interest solely from the proceeds of the authorized revenue <br>bonds or mortgage bonds, as the case may be. Such notes shall mature not later than one <br>(1) year from the date of issuance thereof, as the authority may determine, and shall be <br>renewable at or prior to maturity according to the provisions of the authority's <br>proceedings incident to the issuance thereof. Such anticipation notes need not be offered <br>at an advertised competitive public sale, but may be offered in the manner provided for in <br>the case of similar notes of certain state agencies, according to KRS 56.513. History: Created 1970 Ky. Acts ch. 243, sec. 22.