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165.090 Sale of bonds -- Disposition of proceeds.

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165.090 Sale of bonds -- Disposition of proceeds. Bonds issued under authority of KRS 165.080 shall be placed under the control of the <br>president and trustees of the university, who shall determine when and at what price they <br>shall be sold, but no bonds shall be sold for less than par. Any premium obtained from the <br>bonds shall constitute a part of the sinking fund for their ultimate redemption. The <br>proceeds of the bonds shall be deposited to the credit of the university in the depositories <br>that are selected for the deposit of the funds of the sinking fund commissioners of the <br>city, upon the same agreement as to interest, and shall be withdrawn upon the checks of <br>the treasurer of the university, countersigned by the president thereof. Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 2948b-5.