KRS 58.070: Maintenance, operating and depreciation funds -- Rentals, rates and

charges.

At or before the issuance of bonds the governmental agency shall, by order, resolution or

ordinance, set aside and pledge the income and revenue of the public project including

rents, royalties, fees and proceeds of sales of property and from rates and ch arges for

services derived from or rendered by the public project into a separate and special fund to

be used and applied in payment of the cost thereof and in the maintenance, operation and

depreciation thereof. The order, resolution or ordinance shall de finitely fix and determine

the amount of revenue necessary to be set apart and applied to the payment of principal

and interest of the bonds, and the proportion of the balance of the income and revenue to

be set aside as a proper and adequate depreciation account, and the remaining proportion

of such balance shall be set aside for the reasonable and proper operation and

maintenance of the public project. The rents, royalties, fees, rates and charges for the

services or sale of the public project shall be fi xed and revised from time to time so as to

be sufficient to provide for payment of interest upon all bonds and to create a sinking

fund to pay the principal thereof when due, and to provide for the operation and

maintenance of the public project and an adequate depreciation account.