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Title 109 | Chapter 007 | Regulation 010


109 KAR 7:010.Local government bonds, obligations; marketing assistance.

Section 1.

(1)

Prior to delivery of any bonds, the issuer, fiscal agent, or bond attorney shall give notification to the state-local finance officer in accordance with KRS 66.045 of all bonds to be issued by or on behalf of any local government, except those bond issues specified in Section 2 of this administrative regulation.

(2)

Such notification shall include:

(a)

The official statement of the terms and conditions of the issue offered for sale.

(b)

A certified copy of the resolution of the governing body of the issuing agency which recites the bids received and accepts the successful bid.

(c)

The following information, if not contained in the documents specified in paragraphs (a) and (b) of this subsection or if either of those documents are not available:

1.

Maturity schedule.

2.

Tabulation of all bids received indicating successful bidder.

3.

Date of issue.

4.

Purpose.

5.

Paying agent or agents.

6.

Name of successful bidder.

Section 2.

The state-local finance officer need not be given notification of the following bond issues:

(1)

All bond issues:

(a)

By school districts; or

(b)

On behalf of school districts such as, for example, school revenue bonds issued by counties or cities acting on behalf of school districts.

(2)

All bond issues of the following state agencies:

(a)

State Property and Buildings Commission;

(b)

State universities and colleges;

(c)

Kentucky Turnpike Authority.

HISTORY: (1 Ky.R. 592; eff. 4-9-1975; Recodified from 200 KAR 10:030, 7-5-1978; Crt eff. 2-27-2020.)

7-Year Expiration: 2/27/2027

Last Action: 12/15/2021


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