109 KAR 7:010.
Local government bonds, obligations; marketing assistance.
RELATES TO: KRS
AUTHORITY: KRS Chapters 42, 66
FUNCTION, AND CONFORMITY: KRS Chapter 66.045 requires the state-local finance
officer to facilitate, through state technical and advisory assistance, the
marketing of local government bonds and other long-term obligations at the
lowest possible net interest rate and to require such reports from local
governments as will enable him adequately to provide technical and advisory
assistance and maintain the necessary information for a complete file on local
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
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.
following information, if not contained in the documents specified in
paragraphs (a) and (b) of this subsection or if either of those documents are
2. Tabulation of
all bids received indicating successful bidder.
3. Date of
5. Paying agent
6. Name of
Section 2. The
state-local finance officer need not be given notification of the following
(1) All bond
(a) By school
(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:
Property and Buildings Commission;
universities and colleges;
Turnpike Authority. (Recodified from 200 KAR 10:030, 7-5-78.)