147A.020 Powers and duties of state local debt officer and state local finance
351 words·~2 min read·
/ky/147a-020A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
officer.
(1)The state local debt officer and the state local finance officer within the Department
for Local Government shall exercise the following administrative functions of the
state:
(a)The state local debt officer shall exercise all administrative functions as
provided in the county debt act, KRS 66.280 to 66.390, and administrative
functions relating to local government bonds as provided in KRS 66.045; and
(b)The state local finance officer shall exercise all administrative functions
regarding county and local government budgets, as provided in KRS 68.210 to
68.360.
(2)The state local debt officer shall have the following powers and duties:
(a)To require reports from local governments to enable him to adequately
provide the technical and advisory assistance authorized by this section. The
reports shall provide the necessary information for a complete file on local
government debt, which the state local debt officer shall keep open for public
inspection at the Department for Local Government;
(b)To conduct studies in debt management, including ways and means of
appraising the terms of alternative bids;
(c)To request assistance and information, which shall be provided by all
departments, divisions, boards, bureaus, commissions, and other agencies of
state government, to enable the state local debt officer to carry out his duties
under this section; and
(d)To compile and publish annually a report which shall include detailed
information on local government long-term debt issued and retired during the
previous year and outstanding, and other available statistical data on local
government finances.
(3)The state local finance officer shall have the following powers and duties:
(a)To coordinate for the Governor the state's responsibility for, and shall be
responsible for liaison with the appropriate state and federal agencies with
respect to, general revenue sharing for local government;
(b)To provide technical assistance and information to units of local government
on matters including but not limited to fiscal management, purchases, and
contracts; and
(c)To conduct training programs to instruct county and other local officials
respecting their duties and responsibilities in the collection, expenditure, and
management of public moneys subject to their control and jurisdiction.