Statutes > Kentucky Statutes > CHAPTER 177 STATE AND FEDERAL HIGHWAYS -- LIMITED ACCESS FACILITIES -- TURNPIKES -- ROAD BONDS -- BILLBOARDS -- RECYCLERS > 177.790 Bonds to mature in thirty years -- Other details to be established by the State Property and Buildings Commission.

177.790 Bonds to mature in thirty years -- Other details to be established by the State Property and Buildings Commission.

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177.790 Bonds to mature in thirty years -- Other details to be established by the State Property and Buildings Commission. If KRS 177.700 to 177.820 be approved by a majority of the votes cast thereon at said <br>election, the initial date of issue of the 1960 bonds shall be established by resolution of <br>the State Property and Buildings Commission prior to the first issuance and sale of any of <br>said bonds; and thereafter all of the 1960 bonds, whenever issued, shall be dated as of <br>said date, and shall mature as to principal on or prior to the thirtieth (30th) anniversary <br>thereof. The bonds shall be sold for not less than par or face amount and shall bear <br>interest at such rate or rates, but not to exceed the rate referred to in KRS 177.780, as said <br>commission may determine, and interest may be made payable semiannually. The bonds <br>may be issued at one time or from time to time as the State Property and Buildings <br>Commission may determine by its resolution or resolutions; and said commission shall in <br>its discretion determine all details thereof, including but not by way of limitation, their <br>denominations, whether the bonds shall be of term or serial maturities, and the amount <br>which shall mature on any serial maturity date; whether the bonds, or any of them, shall <br>be subject to redemption prior to stated maturities and upon what terms; place or places <br>of payment of principal and interest, which may be within the Commonwealth or outside <br>thereof; whether interest shall be evidenced by annexed coupons; whether the bonds shall <br>be registered or registrable as to principal or interest, or both, and any other details not <br>contrary to law or inconsistent with KRS 177.700 to 177.820 which in the discretion of <br>said commission may appear wise and expedient. Effective: June 16, 1960 <br>History: Created 1960 Ky. Acts ch. 106, sec. 11, effective June 16, 1960.