KRS 67A.800: Segregation of proceeds from assessment -- Sinking fund.

The proceeds received by the urban -county government from each and every annual

improvement assessment levy made in connection with each separate improvement

project, as authorized by KRS 67A.710 to 67A.825, shall be segregated from and kept

always separate and apart from all other receipts of the urban -county government from

any and all other sources, and shall be deposited in a separate and special account in a

financial institution in an account so specially designated by number or other designation

as to identify the same in such manner as to distinguish the receipts and deposits from

each such project from the receipts and deposits from every other such project, and from

any and every other account or fund of the urban -county government. The same shall

constitute the "sinking fund" referred to in KRS 67A.710 to 67A.825. The funds shall be

deposited in an interest -bearing account, at the rate of interest prevailing at the time of

such deposit. When the bonds become due, funds shall be transferred to the a ccount from

which the bonds shall be paid.