Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO: KRS Chapter 66
NECESSITY, 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 government debt.
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 regulation.
(2) Such 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.
(c) The
following information, if not contained in the documents specified in
paragraphs (a) and (b) of this subsection or if either of those documents are
not available:
1. Maturity schedule.
2. Tabulation of all bids received indicating
successful bidder.
3. Date of
issue.
4. Purpose.
5. Paying agent or agents.
6. Name of successful bidder.
Section 2.
The state-local finance officer need not be given notification of the following
bond issues:
(1) All bond issues:
(a) By school districts; or
(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:
(a) State Property and Buildings
Commission;
(b) State universities
and colleges;
(c) Kentucky Turnpike
Authority.
STATUTORY AUTHORITY: KRS Chapters 42,
66
