Statutes > Kentucky Statutes > CHAPTER 180 STATE BRIDGES, TUNNELS, AND FERRIES > 180.090 Bonds may be paid out of tolls -- How tolls may be reduced.

180.090 Bonds may be paid out of tolls -- How tolls may be reduced.

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180.090 Bonds may be paid out of tolls -- How tolls may be reduced. The department may collect tolls and fix toll rates for a period of time sufficient to pay <br>off the principal and interest on bonds issued under KRS 180.070. When the bonds <br>mature, payment shall be made to the holders out of revenue derived from bridges or as <br>provided in subsection (2) of KRS 180.130. The rate of tolls to be collected, if fixed in <br>any bonds, shall not be reduced without the consent of the holders of the bonds. Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4356s-5, 4356s-6.