KRS § 61.390 — KY Code / Title VIII / Chapter 61 / Section 61.390
61.390 Facsimile signatures and seals on certain public securities -- Options
Status: in_force

61.390 Facsimile signatures and seals on certain public securities -- Options.

(1) Any bonds heretofore or hereafter authorized to be issued by the state, any county,

municipality, taxing or school district, including any corporation acting as an

agency or instrumentality of such unit, whether created by statute, or organized

under the provisions of the nonprofit corporation laws, under the provisions of any

law heretofore or hereafter enacted and any interest coupons attached thereto may, if

so authorized by the governing body of such unit, bear or be executed with the

facsimile signature of any official authorized by such law to sign or to execute such

bonds or coupons. In case any such law shall provide for the sealing of such bonds

with the official or corporate seal of such unit or of its governing body or any

official thereof, a facsimile of such seal may be imprinted on the bonds if so

authorized by the governing body of such unit, and it shall not be necessary in such

case to impress such seal physically upon such bonds.

(2) In case any such law shall provide that bonds issued thereunder shall be negotiable,

such bonds shall be offered for sale as negotiable bonds, payable to bearer, with or

without attached coupons for the payment of interest and with or without privilege

of registration as to principal only, or registration as to both principal and interest,

as the governing body of the issuing unit may determine; but such governing body

may nevertheless additionally provide, in its discretion, that any purchaser of all or

any of such bonds shall have a right and privilege to designate, subject to such

conditions and restrictions as the governing body may prescribe, that such bonds, or

any of them, be issued in the first instance in fully registered nonnegotiable form, or

in one (1) or more denominations of such purchaser's own choosing, or both,

whether in negotiable or nonnegotiable form, with or without attached coupons,

with or without registration provision, and with or without rights of conversion or

reconversion from one (1) form and denomination to another, at the option of the

holder or holders from time to time.

(3) In case any officer whose signature or a facsimile of whose signature shall appear

on any bonds or coupons shall cease to be such officer before the delivery of such

bonds, such signature or such facsimile shall nevertheless be valid and sufficient for

all purposes the same as if he had remained in office until such delivery, and any

bond may bear the facsimile signature of, or may be signed by, such persons as at

the actual time of the execution of such bond shall be the proper officers to sign

such bond although at the date of such bond such persons may not have been such

officers.

(4) The words "public securities" as used herein shall mean bonds, notes or other

obligations for the payment of money issued by this state, by its political

subdivisions, or by any department, agency or other instrumentality of this state or

of any of its political subdivisions.

(5) This section shall not repeal any other law authorizing the execution of public

securities with facsimile signatures or seals.