If there is a default in the payment of the principal or interest of any of the bonds issued under KRS 216.100 to 216.220, any court having jurisdiction of the action may appoint a receiver to administer the municipal hospital on behalf of the city, with p ower to charge and collect rates for the services the hospital renders sufficient to provide for the payment of any bonds or obligations outstanding against the hospital and for payment of the operating expenses, and to apply the income and revenue in conf ormity with KRS 216.100 to 216.220 and the ordinance referred to in KRS 216.160.
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