201.200 Limitation on expenditures -- Board may borrow money.
182 words·~1 min read·
/ky/chapter-201/201-200A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The board shall not in any one
(1)year, expend for the maintenance of the home
and the carrying out of the purposes of this chapter, more than the total sum derived
through the appropriations for the year as provided in KRS 201.170, as
supplemented by funds given to the board for such purposes and the funds derived
from the sale or income of property given to the board for such purposes and by the
income of the home for the year.
(2)The board may borrow money on its own credit in anticipation of the revenue to be
derived from appropriations or other income for the fiscal year in which the money
is borrowed. For such purpose, the board may pledge the appropriations authorized
under KRS 201.160 and 201.170. No money borrowed through the pledge of
appropriations authorized under KRS 201.160 shall be expended for any purposes
other than those named in that section; and no money borrowed through the pledge
of appropriations authorized under KRS 201.170 shall be expended for any
purposes other than those named in that section.