KRS 65.2004: Periodic payment of damages.

(1) Upon motion of a local government against which final judgment has been rendered

for a claim within the scope of KRS 65.200 to 65.2006, the court, in accordance

with subsection (2) of this section, may include in such judgment a requirement that

the judgment be paid in whole or in part by periodic payments. Periodic payments

may be ordered paid over a period of time not exceeding ten (10) years. Any

periodic payment, upon becoming due under the terms of the judgment, shall

constitute a separate judgment. An y judgment ordering any such payments shall

specify the total amount awarded, the amount of each payment, the interval between

payments and the number of payments to be paid under the judgment. Judgments

paid pursuant to this section shall bear interest ac cruing from the date final

judgment is entered, at the interest rate as specified in KRS 360.040. For good

cause shown, the court may modify such judgment with respect to the amount of

such payments and the number of payments, but the total amount of damag es

awarded by such judgment shall not be subject to modification in any event and

periodic payments shall not be ordered paid over a period in excess of ten (10)

years.

(2) A court may order periodic payment only upon finding that:

(a) Payment of the judgment is not totally covered by insurance; and

(b) Funds for the current budget year and other funds of the local government

which lawfully may be utilized to pay judgments are insufficient to finance

both the adopted budget of expenditures for the year and the payment of that

portion of the judgment not covered by insurance.