106.120 Transfer of surplus in operating and maintenance funds to depreciation
73 words·~1 min read·
/ky/106-120A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
account. If a surplus is accumulated in the operating and maintenance funds equal to the cost of maintaining and operating the waterworks during the remainder of the calendar, operating or fiscal year and during the succeeding like year, any excess over such amount may be transferred at any time by the water district commissioners or city legislative body to the depreciation account, to be used for improvements, extensions or additions to the waterworks.