Statutes > Kentucky Statutes > CHAPTER 180 STATE BRIDGES, TUNNELS, AND FERRIES > 180.160 Department may impose and agree to conditions in sale of bonds -- Duration of contract.

180.160 Department may impose and agree to conditions in sale of bonds -- Duration of contract.

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180.160 Department may impose and agree to conditions in sale of bonds -- Duration of contract. The department may impose such conditions as it deems best in any contract for the sale <br>of the bonds, and may assent in the contract to reasonable conditions imposed upon the <br>department in its issuance and delivery of the bonds. The conditions may include a <br>covenant of the department that within the period the purchasers are required or permitted <br>to accept and pay for bonds purchased but remaining undelivered, and for six (6) months <br>thereafter, the department will not advertise for sale, sell or issue any bonds or other <br>obligations payable from bridge tolls without the purchasers' consent. No such covenant <br>shall extend beyond the biennial period in which the contract is made. Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4356s-19.