Ky. Const. art. I, § 49
- Constitution
- Constitution of Kentucky
- Text as of
- October 2026
What does this section say?
Section 49 Power to contract debts -- Limit. 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. Text as Ratified on: August 3, 1891, and revised September 28, 1891. History: Not yet amended.
The text is copied from the official source: apps.legislature.ky.gov. This is the stored text for research. It is not legal advice; check the official source before you rely on it.