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162.170 Financing construction of buildings.

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162.170 Financing construction of buildings. For the purpose of defraying the cost of constructing or acquiring any school buildings <br>and appurtenances for common school purposes under the provisions of KRS 162.150, <br>any city may borrow money and issue negotiable revenue bonds. No bonds for common <br>school purposes shall be issued until the conditions of KRS 162.160 have been complied <br>with, and until authorized by an ordinance specifying the proposed undertaking, the <br>amount of bonds to be issued, and the maximum rate of interest the bonds are to bear. <br>The ordinance shall further provide that the buildings and appurtenant facilities are to be <br>constructed or acquired under the provisions of KRS 162.150 to 162.280. Effective: July 15, 1996 <br>History: Amended 1996 Ky. Acts ch. 274, sec. 34, effective July 15, 1996. -- Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 558, effective July 13, 1990. -- <br>Amended 1978 Ky. Acts ch. 155, sec. 82, effective June 17, 1978. -- Amended 1970 <br>Ky. Acts ch. 137, sec. 1. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective <br>October 1, 1942, from Ky. Stat. secs. 4421-6, 4421-12.