The Lexington-Fayette Urban County Government may issue any bonds which counties containing a city of the second class or cities of the second class are, or hereafter may be, authorized to issue under the Constitution and laws of the Commonwealth of Kentucky. All bonds issued by the Merged Government after the effective date of this Charter shall be allocated to the General Services District, the Full Urban Services District, or any Partial Urban Services Districts for the purpose of funding services rendered by the Merged Government in said districts.
All bonds issued before the effective date of this Charter by the County of Fayette and all bonds authorized but unissued by the County of Fayette on the effective date of this Charter shall be allocated to the General Services District. All bonds issued before the effective date of this Charter by the City of Lexington and all bonds authorized but unissued by the City of Lexington on the effective date of this Charter shall be allocated to the Full Urban Services District.