United States — Kentucky
KRS § 96.330 Repealed, 2019.
1 provisions
This section was repealed in 2019.
Act or statute Open & Chat
United States — Kentucky Statutes
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United States — Kentucky
KRS § 96.340 Repealed, 2019.
1 provisions
This section was repealed in 2019.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.350 City of home rule class may acquire and operate waterworks -- Sewerage system may be joined.
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A city of the home rule class may acquire and operate waterworks, and may also combine a sewerage system with a water system for original financing.
Rule Open & ChatUnited States — Kentucky
KRS § 96.3501 Powers of KRS 96.350 to 96.510 possessed by urban-county governments.
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Urban-county governments are affirmed to have the powers of the highest-class city, and references to city-related officials or bodies in this part of the law also apply to the corresponding urban-county government counterparts.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.351 Waterworks or waterworks and sewerage commissions in cities in counties of more than 50,000 other than counties containing a consolidated local government or urban-county government.
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Some eligible city councils may establish a waterworks commission or waterworks and sewerage commission by ordinance, and the ordinance must require appointment within one month.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.355 Legislative body of city of the home rule class may provide city with waterworks system -- Police protection for waterworks system located outside city limits.
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A home-rule city legislative body may pass an ordinance to provide water and regulate waterworks facilities, and the city may provide police protection for waterworks property outside city limits.
Rule Open & ChatUnited States — Kentucky
KRS § 96.360 Acquisition of existing waterworks -- Notice of agreement -- Petition -- Election.
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A city legislative body may buy existing waterworks, but it must first give 45 days’ notice by publishing the purchase agreement.
Notice Open & ChatUnited States — Kentucky
KRS § 96.370 Issuance of bonds -- Ordinance to authorize.
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A city may borrow money and issue negotiable bonds to pay for waterworks and related extensions, but only after an ordinance sets out the undertaking, bond amount, and maximum interest rate.
Ordinance Open & ChatUnited States — Kentucky
KRS § 96.380 Interest rate and maturity of bonds.
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Bonds may bear interest at rates or a method for setting rates, must be payable at least annually, and must not be payable more than 40 years after issuance.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.390 Bonds negotiable and tax-free -- Method of sale -- Payable solely from revenues.
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Bonds issued under KRS 96.370 are negotiable and tax-free.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.400 Application of proceeds of bonds -- Lien.
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Bond proceeds must be used only for specified waterworks purposes, and the financed property is subject to a statutory mortgage lien for bondholders.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.410 Rights of bondholders to enforce lien.
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Bondholders or coupon holders may enforce the lien and related duties; the waterworks stays subject to the lien until the bonds are paid in full.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.420 Receiver.
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If bond principal or interest is in default, a court may appoint a receiver to run the waterworks and collect rates.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.430 Maintenance, operation and depreciation funds -- Rates.
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Before bonds are issued, the city legislative body must set aside waterworks income in a special fund and set rates so revenues cover bond service, maintenance, and depreciation.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.440 Transfer of surplus to depreciation fund.
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The city legislative body may transfer any excess surplus from the waterworks operating and maintenance funds to the depreciation account.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.450 Expenditure and investment of depreciation fund.
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Money accumulating in the depreciation account must be spent on balancing depreciation or on new construction, extensions, or additions; the city legislative body may direct how any surplus is invested.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.460 City to pay for water used by it.
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The city must pay the waterworks for services used by the city, monthly as the service accrues, and must levy enough taxes if needed to cover that cost.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.470 Refunding bonds.
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A city may issue new bonds to pay outstanding bonds, if it follows the procedure in KRS 96.350 to 96.510.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.480 Additional bonds.
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If the city legislative body decides the authorized bonds are not enough for the desired purpose, it may authorize and issue additional bonds in the same way.
Act or statute Open & ChatUnited States — Kentucky
KRS § 96.490 Bonds for extensions and improvements.
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A city acquiring waterworks may issue additional bonds for extensions and improvements, including bonds placed in escrow and later negotiated as needed.
Act or statute Open & Chat