Statutes > Kentucky Statutes > CHAPTER 177 STATE AND FEDERAL HIGHWAYS -- LIMITED ACCESS FACILITIES -- TURNPIKES -- ROAD BONDS -- BILLBOARDS -- RECYCLERS > 177.800 Bonds to be sold at public sale or sales -- Manner of advertising -- Interest rates to be established by the commission and may be determined on basis of competition.

177.800 Bonds to be sold at public sale or sales -- Manner of advertising -- Interest rates to be established by the commission and may be determined on basis of competition.

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177.800 Bonds to be sold at public sale or sales -- Manner of advertising -- Interest rates to be established by the commission and may be determined on basis of <br>competition. The bonds shall be sold by the commission, in its discretion, at one (1) sale or from time <br>to time as funds are required for the identified purposes. Each sale shall be upon sealed <br>purchase bids which shall be publicly opened and considered after solicitation at least ten <br>(10) days in advance by publication of a notice at least one (1) time in a financial <br>newspaper or journal published in the City and State of New York, and by advertisement <br>by publication pursuant to KRS Chapter 424. The commission may fix one (1) or more <br>interest rates by resolutions adopted prior to publication of the advertisement, or may <br>notify bidders to stipulate in their bids one (1) or more interest rates of their own <br>choosing and fix the rate or rates by resolution when action is taken upon the bids. The <br>commission shall reserve the right to reject bids. History: Amended 1966 Ky. Acts ch. 239, sec. 152. -- Created 1960 Ky. Acts ch. 106, sec. 12, effective June 16, 1960.