{"data":{"id":"us-ky/krs-106.110","jurisdiction":"us-ky","citation":"KRS 106.110","heading":"Pledge of income and revenue -- Form of resolution or ordinance.","body":"At or before the issuance of the bonds the water district commissioners shall, by\nresolution, or the city legislative body shall, by ordinance, set aside and pledge the\nincome and revenue of the waterworks into a separate and special fund to be used and\napplied in payment of the cost thereof and in the maintenance, operation and depreciation\nthereof. The resolution or ordinance shall definitely fix and determine the amount of\nrevenue necessary to be set apart and applied to the payment of the principal and interest\nof the bonds, and the proportion of the balance of the income and revenues to be set aside\nas a proper and adequate depreciation account, and the remaining proportion of such\nbalance shall be set aside for the reasonable and proper operation and m aintenance of the\nwaterworks. The rates to be charged for service from the waterworks shall be fixed and\nrevised from time to time so as to be sufficient to provide for payment of interest upon all\nbonds and to create a sinking fund to pay the principal th ereof when due, and to provide\nfor the operation and maintenance of the waterworks and an adequate depreciation\naccount.","path":["KRS Chapter 106"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=27135","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:09Z","sha256":"5f9f6a81938a243546aa3a9d8596b0df9b336121b574c63f1f4e068324258372","source_id":"us-ky","stale":false,"prev":"us-ky/krs-106.100","next":"us-ky/krs-106.120"},"notice":"GroundRules: Original legal text. Not legal advice."}