KRS 106.120: Transfer of surplus in operating and maintenance funds to depreciation

account.

If a surplus is accumulated in the operating and maintenance funds equal to the cost of

maintaining and operating the waterworks during the remainder of the calendar, operating

or fiscal year and during the succeeding like year, any excess over such amount may be

transferred at any time by the water district commissioners or city legislative body to the

depreciation account, to be used for improvements, extensions or additi ons to the

waterworks.