Kentucky Constitution
Article The Legislative Department, § 49 — Power to contract debts — Limit
Kentucky Const. art. The Legislative Department, § 49
Kentucky Const. art. The Legislative Department, § 49 (Power to contract debts — Limit) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
JurisdictionKentuckyDocumentConstitution
ArticleThe Legislative Department
Section§ 49
CitationKentucky Const. art. The Legislative Department, § 49
Bluebook
Ky. Const. art. The Legislative Department, § 49.
Full Text
The General Assembly may contract debts to meet casual deficits or failures in the revenue; but such debts, direct or contingent, singly or in the aggregate, shall not at any time exceed five hundred thousand dollars, and the moneys arising from loans creating such debts shall be applied only to the purpose or purposes for which they were obtained, or to repay such debts: Provided, The General Assembly may contract debts to repel invasion, suppress insurrection, or, if hostilities are threatened, provide for the public defense.
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History
Text as Ratified on: August 3, 1891, and revised September 28, 1891. History: Not yet amended.