If any district has previously issued bonds secured entirely or partially by the right to levy an assessment as provided by KRS 76.340 to 76.365, both inclusive, and such bonds are redeemed prior to maturity, bonds to refund same may be issued secured solely by the revenue of said systems in the manner provided in KRS 76.366.
KRS 76.367
Created 1958 Ky. Acts ch. 162, sec. 1, effective6/19/1958.