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97.760 Procedure in sale of bonds -- Disposition of proceeds.

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97.760 Procedure in sale of bonds -- Disposition of proceeds. Bonds issued pursuant to Chapter 23 of the Acts of 1922 shall be placed under the control <br>of the commission, which shall determine when, and at what price and how they shall be <br>sold. Any premium obtained from the sale of the bonds shall constitute a part of the <br>sinking fund for their ultimate retirement. As the bonds are sold, their proceeds shall go <br>to the credit of the commission in the same depositories that are selected for the deposit <br>of the funds held by the commissioners of the sinking fund of the city, upon like <br>agreements as to interest. The proceeds of the bonds shall be withdrawn only upon the <br>checks of the secretary and treasurer of the commission, countersigned in a manner and <br>accompanied by a voucher as may be prescribed by administrative regulations <br>promulgated by the commission. Effective: July 15, 1996 <br>History: Amended 1996 Ky. Acts ch. 274, sec. 27, effective July 15, 1996. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. <br>sec. 3037i-18.