224A.318 Water management assistance fund.

165 words·~1 min read·/ky/chapter-224a/224a-318

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

(1)The water management assistance fund shall be established in the State Treasury

and shall be administered by the authority.

(2)The fund shall be a dedicated fund, and all moneys in the fund shall be allocated for

and dedicated to providing financial assistance for both capital and non-capital

expenses for governmental agencies that:

(a)Provide public drinking water or wastewater services to ratepayers in the

Commonwealth; and

(b)Are considered financially at risk.

(3)The fund may receive donations and gifts, state and federal appropriations, federal

grants or loans, and revenues or proceeds from the sale of bonds or from other

financial instruments. The fund may receive proceeds from the authority's revolving

fund, as available, and if not contrary to the requirements which establish and

govern the management and use of those funds.

(4)Moneys in the fund shall not lapse but shall be carried forward to the next fiscal

year and used solely for the stated purposes in this section and KRS 224A.316.