68.127 Emergency floodwall operation fund, fiscal court of county containing city

217 words·~1 min read·/ky/68-127

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

of the first class may establish -- Additions to fund -- Investment of funds --

Gifts.

(1)The fiscal court of any county containing a city of the first class is hereby

authorized and empowered to establish a fund to be designated and known as an

emergency floodwall operation fund and to set aside in said fund and acquire

therein from year to year funds for the purpose of operating floodwalls when such

operation shall become necessary because of flood or other emergency. The fund

herein provided shall be a permanent fund and the sums accumulated shall not be

used for any other purpose.

(2)The fiscal court of such county may add to the fund from year to year such moneys

out of its general revenue as it deems advisable or necessary.

(3)All moneys in said fund shall be kept as other county funds, but shall be invested

under the supervision of said fiscal court only in obligations of the United States

government.

(4)Such fiscal court shall have the power, upon the approval of the majority of the

members thereof, to receive any funds by gift or devise to be placed in or become a

part of such emergency floodwall operation fund upon such terms and conditions as

the fiscal court shall deem proper.