KRS 211.280: Powers of cabinet concerning gifts, grants and endowments.

(1) The cabinet may receive and accept gifts and endowments of every kind including

gifts and endowments for special purposes and may receive grants from the federal

government. Moneys acquired through gifts, endowments or grants shall be

deposited in the State Treasury to the credit of a trust or agency fund to be used for

the purposes for which they are received. Gifts or endowments with special

restrictions as to use or purpose shall be expended in accordance with such

restrictions.

(2) The cabinet may mortgage, pledge, sell or convey lands or goods so received unless

specifically prohibited by the terms of the gift, proceeds therefrom to go to the

credit of a trust or agency fund set out in subsection (1) of this section.