165.100 Purposes for which proceeds may be used.
73 words·~1 min read·
/ky/chapter-165/165-100A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The money derived from the bonds issued under authority of KRS 165.080 shall be used to meet the needs of the university. The authorized use includes the payment for real estate and buildings purchased or to be purchased, the erection and alteration of improvements, and the securing of proper equipment, but does not include the payment of salaries or operating expenses or the payment of any existing indebtedness incurred as an operating expense.