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162.600 Bonds to issue in name of authority -- Identification -- Investment designation.

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162.600 Bonds to issue in name of authority -- Identification -- Investment designation. (1) Bonds of the authority shall be issued in the name of the authority, shall be designated &quot;school building revenue bonds,&quot; or, if appropriate, &quot;school building <br>revenue refunding bonds,&quot; and shall additionally be identified by the name of the <br>board of education executing the lease. If the authority shall issue more than one (1) <br>series of bonds for the same lessee from time to time, each series, including the first <br>or subsequent to the first, shall additionally be identified distinctly by alphabetical <br>or chronological designation, by date of the bonds, or otherwise as the authority <br>may determine. (2) For the purposes of determining any limit prescribed by any law for investment of any public funds, or funds of banks, trust companies, insurance companies, building <br>and loan associations, credit unions, pension and retirement funds, and fiduciaries, <br>in obligations of a single obligor, bonds issued by the authority pursuant to KRS <br>162.520 to 162.620 shall not be deemed to be bonds or obligations of the same <br>obligor except to the aggregate of all series of bonds involving leases of a single <br>board of education. (3) Bonds issued by the authority under the provisions of KRS 162.520 to 162.620 are hereby made securities in which all public officers and public bodies of the <br>Commonwealth and its political subdivisions, all insurance companies, trust <br>companies, banking associations, investment companies, executors, trustees, and <br>other fiduciaries, and all other persons whatsoever who are now or may hereafter be <br>authorized to invest in bonds or other obligations of a similar nature may properly <br>and legally invest funds, including capital in their control or belonging to them. <br>Such bonds are hereby made securities which may properly and legally be deposited <br>with and received by any state or municipal officer or any agency or political <br>subdivision of the Commonwealth for any purpose for which the deposit of bonds <br>or other obligations of the Commonwealth is now or may hereafter be authorized by <br>law. Effective: July 13, 1990 <br>History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 589, effective July 13, 1990. -- Created 1960 Ky. Acts ch. 81, sec. 10, effective June 16, 1960.