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40.210 Tax-exempt character of bonds -- Signatures -- Temporary and replacement bonds.

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40.210 Tax-exempt character of bonds -- Signatures -- Temporary and replacement bonds. The bonds and receipt of interest thereon shall be exempt from all taxation by the <br>Commonwealth and its political subdivisions. The bonds shall be signed in the name of <br>the Commonwealth by the facsimile signatures of the Governor and Treasurer of the <br>Commonwealth, and the great seal of the Commonwealth or a facsimile thereof shall be <br>affixed thereto and attested by the validating manual signature of the Secretary of State <br>and the facsimile signature of the Treasurer shall be printed upon the interest coupons, if <br>any. In case any officer whose signature or a facsimile shall appear on any bonds or <br>coupons shall cease to be such officer before the delivery of such bonds, such signature or <br>facsimile signature shall, nevertheless, be valid and sufficient for all purposes, the same <br>as if he had remained in office until delivery. All bonds issued under this chapter shall <br>have and are hereby declared to have all the incidents of negotiable instruments. Prior to <br>the preparation of definitive bonds, the State Property and Buildings Commission may <br>issue interim receipts or temporary bonds, with or without interest coupons, exchangeable <br>for definitive bonds when the same shall have been executed and are available for <br>delivery; and provision may also be made for the replacement of any bonds which shall <br>become mutilated or be destroyed or lost. Bonds may be issued under the provisions of <br>this chapter without obtaining the consent of any department, division, commission, <br>board, bureau, or agency of the Commonwealth and without any other proceedings or the <br>happening of any conditions or things other than the proceedings, conditions, and things <br>which are specifically required by this chapter. History: Created 1960 Ky. Acts ch. 15, sec. 24, effective February 20, 1960.