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177.810 Bonds exempt from taxation -- Designation of signing officers -- Temporary bonds or certificates -- No other approvals required.

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177.810 Bonds exempt from taxation -- Designation of signing officers -- Temporary bonds or certificates -- No other approvals required. The bonds and receipt of interest thereon shall be exempt from all taxation by the <br>Commonwealth and its political subdivisions, municipalities, and taxing districts. The <br>bonds shall be signed in the name of the Commonwealth by the facsimile signatures of <br>the Governor and Treasurer of the Commonwealth, and the great seal of the <br>Commonwealth or a facsimile thereof shall be affixed thereto and attested by the <br>validating manual signature of the Secretary of State, and the interest coupons, if any, <br>shall be executed by the facsimile signature of the Treasurer. In case any officer whose <br>signature or facsimile thereof shall appear on any bonds or coupons shall cease to be such <br>officer before delivery of the bonds, such signature or facsimile thereof shall, <br>nevertheless, be valid and sufficient for all purposes, the same as if he had remained in <br>office until delivery. All bonds issued under KRS 177.700 to 177.820 shall have and are <br>hereby declared to have all the incidents of negotiable instruments. Prior to the <br>preparation of definitive bonds, the commission may issue temporary bonds or <br>certificates, exchangeable for definitive bonds when the same shall have been executed <br>and are ready for delivery; and provision may also be made for the replacement of any <br>bonds which shall become mutilated, or be destroyed or lost. Bonds may be issued under <br>the provisions of KRS 177.700 to 177.820 without obtaining the consent of any <br>department, division, commission, board, bureau, or agency of the Commonwealth and <br>without any other proceedings or the happening of any conditions, events or things other <br>than the proceedings, conditions, events, and things which are specifically required by <br>KRS 177.700 to 177.820. Effective: June 16, 1960 <br>History: Created 1960 Ky. Acts ch. 106, sec. 13, effective June 16, 1960.