KRS 97.200: Funds for payment of bonds, maintenance and depreciation.

At or before the issuance of bonds the legislative body of the city shall, by ordinance, set

aside and pledge the revenue of the project into a special fund to be used and applied in

payment of the cost of the project and its maintenance, operation and dep reciation. The

ordinance shall definitely fix the amount of revenue necessary to be set aside and applied

to the payment of the principal and interest of the bonds, and the portion of the balance of

the revenue to be set aside as a proper and adequate depr eciation account, and the

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

and maintenance of the project. The fees to be charged for the use of or admission to the

project shall be fixed and revised from time to time so as to be sufficient to provide for

the payment of interest upon all bonds and to create a sinking fund to pay the principal

when it becomes due, and to provide for operation and maintenance and an adequate

depreciation account. If any surplus is accumulated in the operating and maintenance fund

equal to the cost of maintaining and operating the project during the remainder of the

calendar or fiscal year, the commission may at any time transfer the excess to the

depreciation account to be used for any improvements or additions to the project.