KY · constitutions
Ky. Const. § 159
Tax to pay indebtedness in not more than forty years must be levied
Whenever any city, town, county, taxing district or other municipality is authorized to contract an indebtedness, it shall be required, at the same time, to provide for the collection of an annual tax sufficient to pay the interest on said indebtedness, and to create a sinking fund for the payment of the principal thereof, within not more than forty years from the time of contracting the same.
History
Text as Ratified on: August 3, 1891, and revised September 28, 1891. History: Not yet amended.
Provenance
- Source
- apps.legislature.ky.gov
- Retrieved
- 2026-09-25
- Edition
- 2026-09-25
- Content hash
fbbc00e5f6120bc20ba0ca2025201a901e6da263865157a9ce7e3e4a5591c9aa
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