Kentucky Constitution
Article Municipalities, § 159 — Tax to pay indebtedness in not more than forty years must be levied
Kentucky Const. art. Municipalities, § 159
Kentucky Const. art. Municipalities, § 159 (Tax to pay indebtedness in not more than forty years must be levied) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
JurisdictionKentuckyDocumentConstitution
ArticleMunicipalities
Section§ 159
CitationKentucky Const. art. Municipalities, § 159
Bluebook
Ky. Const. art. Municipalities, § 159.
Full Text
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.
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History
Text as Ratified on: August 3, 1891, and revised September 28, 1891. History: Not yet amended.