2019
KRS § 96.330 Repealed, 2019.
This section was repealed in 2019.
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United States — Kentucky Statutes
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2019
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KRS § 96.350 City of home rule class may acquire and operate waterworks -- Sewerage system may be joined.
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.
- Municipal infrastructure
- Sewerage systems
- Waterworks
Year unavailable
KRS § 96.3501 Powers of KRS 96.350 to 96.510 possessed by urban-county governments.
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.
- Local government powers
Year unavailable
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.
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.
- Municipal commissions
- Waterworks governance
Year unavailable
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.
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.
- Municipal services
- Police protection
- Water supply
Year unavailable
KRS § 96.360 Acquisition of existing waterworks -- Notice of agreement -- Petition -- Election.
A city legislative body may buy existing waterworks, but it must first give 45 days’ notice by publishing the purchase agreement.
- Bond election
- Notice and petition process
- Public utility acquisition
Year unavailable
KRS § 96.370 Issuance of bonds -- Ordinance to authorize.
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.
- Bonds
- Borrowing
- Waterworks
Year unavailable
KRS § 96.380 Interest rate and maturity of bonds.
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.
- Bond issuance
- Interest rates
- Maturity
Year unavailable
KRS § 96.390 Bonds negotiable and tax-free -- Method of sale -- Payable solely from revenues.
Bonds issued under KRS 96.370 are negotiable and tax-free.
- Bonds
- Taxation
- Waterworks
Year unavailable
KRS § 96.400 Application of proceeds of bonds -- Lien.
Bond proceeds must be used only for specified waterworks purposes, and the financed property is subject to a statutory mortgage lien for bondholders.
- Bond proceeds
- Waterworks financing
Year unavailable
KRS § 96.410 Rights of bondholders to enforce lien.
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.
- Bonds
- Liens
- Waterworks
Year unavailable
KRS § 96.420 Receiver.
If bond principal or interest is in default, a court may appoint a receiver to run the waterworks and collect rates.
- Debt default
- Municipal utilities
- Rates and collections
Year unavailable
KRS § 96.430 Maintenance, operation and depreciation funds -- Rates.
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.
- Bond funding
- Depreciation fund
- Waterworks rates
Year unavailable
KRS § 96.440 Transfer of surplus to depreciation fund.
The city legislative body may transfer any excess surplus from the waterworks operating and maintenance funds to the depreciation account.
- Depreciation reserve
- Fund transfers
- Waterworks
Year unavailable
KRS § 96.450 Expenditure and investment of depreciation fund.
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.
- Depreciation fund
- Investment of funds
Year unavailable
KRS § 96.460 City to pay for water used by it.
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.
- Municipal finance
- Utilities
- Waterworks
Year unavailable
KRS § 96.470 Refunding bonds.
A city may issue new bonds to pay outstanding bonds, if it follows the procedure in KRS 96.350 to 96.510.
- Bond issuance
- Refunding bonds
Year unavailable
KRS § 96.480 Additional bonds.
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.
- Bond issuance
Year unavailable
KRS § 96.490 Bonds for extensions and improvements.
A city acquiring waterworks may issue additional bonds for extensions and improvements, including bonds placed in escrow and later negotiated as needed.
- Bonds
- Public utilities
- Waterworks
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