Title IX, Counties, Cities, and Other Local Units

For the purpose of defraying the cost of acquiring by condemnation, purchase or construction any such waterworks, including real and personal property of same and appurtenances or extensions thereto, the water district or the city may borrow money and issue negotiable bonds, but …

Bonds may be issued bearing interest at a rate or rates or method of determining rates, payable at least annually, and shall be executed in a manner and be payable at times not exceeding forty (40) years from the date of issue, and at a place or places as the water district commi…

Bonds issued pursuant to this chapter shall be negotiable and shall not be subject to taxation. If any officer whose signature or countersignature appears on the bonds or coupons ceases to be an officer before delivery of the bonds, his signature or countersignature shall neverth…

All moneys received from the bonds shall be applied solely for the purchase by agreement or condemnation or establishment or erection of the waterworks and extensions and appurtenances thereto, or to advance the payment of the interest on the bonds during the first three (3) year…

The waterworks so acquired, together with the extensions and appurtenances, shall remain subject to the statutory lien until the payment in full of the principal and interest of the bonds. Any holder of the bonds or coupons may, by action at law or in equity, protect and enforce …

If there is any default in the payment of the principal and interest of any bond, any court having jurisdiction of the action may appoint a receiver to administer the waterworks on behalf of the water district or city, with power to charge and collect rates sufficient to provide …

At or before the issuance of the bonds the water district commissioners shall, by resolution, or the city legislative body shall, by ordinance, set aside and pledge the income and revenue of the waterworks into a separate and special fund to be used and applied in payment of the …

account. If a surplus is accumulated in the operating and maintenance funds equal to the cost of maintaining and operating the waterworks during the remainder of the calendar, operating or fiscal year and during the succeeding like year, any excess over such amount may be transfe…

The funds accumulating to the depreciation account shall be expended in balancing depreciation in the waterworks or in making new constructions, extensions or additions thereto. Any such accumulations may be invested as the water district commissioners or city legislative body ma…

The reasonable cost and value of any service rendered to the city by the waterworks may be charged against the city and shall be paid for monthly as the service accrues from the current funds or proceeds of taxes which the city shall levy in an amount sufficient for that purpose.…

The water district or city may issue new bonds to provide funds for the payment of any outstanding bonds, in accordance with the procedure prescribed by this chapter. The new bonds shall be secured to the same extent and shall have the same source of payment as the bonds refunded…

If the water district commissioners or city legislative body finds that the bonds authorized will be insufficient to accomplish the purpose desired, additional bonds may be authorized and issued in the same manner.

Any water district or city acquiring any waterworks pursuant to the provisions of this act may, at the time of issuing the bonds for such acquisition, provide for additional bonds for extensions and permanent improvements to be placed in escrow and to be negotiated from time to t…

The water district commissioners of a water district may provide by resolution or the city legislative body may provide by ordinance such provisions and stipulations for the administration of the income and revenues of the waterworks and for the security of the bondholders as it …

The resolutions or ordinances required by this chapter may set apart a fund equal to the amount of any secured debt or charge subject to which a waterworks is acquired, and shall set aside to that fund, from the balance of the income and revenues of the waterworks remaining after…

owned by city of the home rule class. No city of the home rule class which owns a waterworks system shall sell, convey, rent, or lease the system without the assent of a majority of the legislative body for the city or of those voting at an election held for that purpose after no…

bodies. Except as otherwise specifically provided in this chapter the water district commissioners of the water district and the legislative body of the municipalities shall exercise all powers conferred by virtue of this chapter. Any board operating under the provisions of this …

(1) Any water district or municipality referred to herein shall have the right to acquire by exercise of the power of eminent domain all lands, easements, rights of way, either upon or under or above the ground, any existing water plant or water distribution system and appurtenan…

When the board of any water district or municipality authorized to acquire, construct, own or operate a waterworks or water distribution system and appurtenances thereto, under the provisions of this chapter shall be unable to contract with the owner of any land, easements, right…

Any action challenging the validity of any resolution adopted by any water district commissioners of a water district or challenging the validity of any ordinance adopted by the legislative body of any of the cities electing to operate under this chapter, any bond resolution or o…

Procedure for sale. (1) Bonds issued pursuant to this chapter by water district commissioners and by a legislative body of a municipality may be issued in one (1) or more series, may bear a date or dates, may mature at a time or times, not exceeding forty (40) years from their re…

over waterworks. Neither the Public Service Commission nor any other board, commission or agency of Kentucky shall, unless in the future expressly authorized, have any jurisdiction over such water district or municipality, operation, management and control of any water plant or w…