Kentucky Statutes 262.750 – Bonds
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(1) Bonds authorized by KRS § 262.745 shall not be issued until proposed by order or resolution of the board of directors, specifying the purpose for which the funds are to be used and the proposed undertaking, the amount of bonds to be issued, the rate of interest they are to bear and the amount of any necessary tax levy authorized in KRS § 262.760 to establish a sinking fund for the liquidation of bonds as provided in KRS § 262.760. Copy of the order or resolution shall be certified to the board of supervisors.
(2) The board of supervisors shall conduct a hearing on such proposal after notice given pursuant to KRS § 262.010(4). If it appears that the proposal is within the scope and purpose of KRS § 262.700 to KRS § 262.795 and meets all other requirements of the law, the proposal shall be submitted to the landowners of the district by referendum under supervision of the board of supervisors.
(3) Provisions of KRS § 262.725, 262.730 and 262.740 as to notice, qualifications of voters, absentee voting and manner of holding referendum election in organizing a watershed conservancy district shall apply to the referendum held under this section.
(4) If the landowners voting favor the proposal, subject to the provisions of KRS Chapter 66, the bonds may be issued.
Effective: July 15, 1996
History: Amended 1996 Ky. Acts ch. 280, sec. 25, effective July 15, 1996. — Amended
1984 Ky. Acts ch. 218, sec. 6, effective July 13, 1984. — Amended 1978 Ky. Acts ch.
332, sec. 14, effective June 17, 1978. — Created 1956 Ky. Acts ch. 203, sec. 11, effective May 18, 1956.
Legislative Research Commission Note This section was amended by 1984 Acts Chapter 100, sec. 6, which are in conflict and cannot be compiled together. Pursuant to KRS § 446.250, the amendment in Chapter 218, sec. 6 prevails as the later amendment.
(2) The board of supervisors shall conduct a hearing on such proposal after notice given pursuant to KRS § 262.010(4). If it appears that the proposal is within the scope and purpose of KRS § 262.700 to KRS § 262.795 and meets all other requirements of the law, the proposal shall be submitted to the landowners of the district by referendum under supervision of the board of supervisors.
Terms Used In Kentucky Statutes 262.750
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
(3) Provisions of KRS § 262.725, 262.730 and 262.740 as to notice, qualifications of voters, absentee voting and manner of holding referendum election in organizing a watershed conservancy district shall apply to the referendum held under this section.
(4) If the landowners voting favor the proposal, subject to the provisions of KRS Chapter 66, the bonds may be issued.
Effective: July 15, 1996
History: Amended 1996 Ky. Acts ch. 280, sec. 25, effective July 15, 1996. — Amended
1984 Ky. Acts ch. 218, sec. 6, effective July 13, 1984. — Amended 1978 Ky. Acts ch.
332, sec. 14, effective June 17, 1978. — Created 1956 Ky. Acts ch. 203, sec. 11, effective May 18, 1956.
Legislative Research Commission Note This section was amended by 1984 Acts Chapter 100, sec. 6, which are in conflict and cannot be compiled together. Pursuant to KRS § 446.250, the amendment in Chapter 218, sec. 6 prevails as the later amendment.