UNOFFICIAL COPY 25 RS BR 451
Page 1 of 1
XXXX 2/14/2025 11:12 AM Jacketed
AN ACT relating to general obligation bonds. 1
Be it enacted by the General Assembly of the Commonwealth of Kentucky: 2
ď˘Section 1. KRS 45.812 is amended to read as follows: 3
(1) (a) Prior to the issuance of the general obligation bonds, revenue bonds, or notes 4
authorized by an appropriation of the General Assembly, or by or on behalf of 5
any Kentucky school district, the agency, corporation, or school district 6
authorized to issue the bonds or notes shall furnish to the Capital Projects and 7
Bond Oversight Committee and the Interim Joint Committee on 8
Appropriations and Revenue, and make available to the public, a listing of all 9
costs associated, either directly or indirectly, with the issuance of the general 10
obligation bonds, revenue bonds, or notes. 11
(b) The costs shall be itemized as to amount and name of payee, and shall include 12
fees or commissions paid to, or anticipated to be paid to, issuers, underwriters, 13
placement agents and advisors, financial advisors, remarketing agents, credit 14
enhancers, trustees, accountants, and the counsel of all these persons, bond 15
counsel, and special tax counsel, and shall include the economic benefits 16
received or anticipated to be received by any other persons from any source in 17
return for services performed relating to the issuance of the bonds or notes. 18
(c) Changes in amounts or names of payees or recipients, or additions of amounts 19
or names of payees or recipients, to the listing furnished and made available 20
pursuant to this subsection, shall be furnished to the Capital Projects and 21
Bond Oversight Committee and the Interim Joint Committee on 22
Appropriations and Revenue and made available to the public within three (3) 23
days following the change. 24
(2) The costs required to be furnished under the provisions of subsection (1) of this 25
section shall not include the payment of wages or expenses to full-time, permanent 26
employees of the Commonwealth of Kentucky. 27