{"data":{"id":"us-ky/krs-148.320","jurisdiction":"us-ky","citation":"KRS 148.320","heading":"Use of revenues -- Deposit of funds -- Accounts and reports -- Emergency","body":"for purchasing purposes.\n(1) (a) All revenues derived by the commission from the use of properties and\nfacilities under its custody and control shall be used exclusively  for the\npurpose of defraying the expenses of the commission, the cost of the\nmanagement and operation of such properties and facilities, the payment of\ninterest and principal upon any indebtedness incurred by the commission for\nsuch properties and facilit ies, the creation of adequate reserves for the repair\nand replacement thereof and for the financing of further extensions,\nimprovements, and additions thereto. Included in the cost of operation may be\nsuch promotional activities as the commission may deter mine upon as\ncalculated to stimulate and increase the use and the revenues of such facilities,\nand to increase and stimulate the interest and usefulness of the Kentucky\nHorse Park.\n(b) Any surplus revenues remaining after full provision for the purposes in\nparagraph (a) of this subsection shall:\n1. Be used to reduce the admission fees to the public for admittance to the\nKentucky Horse Park and for public use by the citizens of the\nCommonwealth of the facilities, or reduce the annual appropriation by\nthe General Assembly to the Kentucky Horse Park; and\n2. Not be appropriated to any other agency or function.\n(2) The commission shall generally cause its funds to be deposited in the State\nTreasurer's office to be withdrawn on appropriate vouchers approved by the\ncommission.\n(3) An annual accounting of the funds of the commission shall be made by the Auditor\nof Public Accounts and reported to the Governor for the benefit of the Governor\nand the General Assembly.\n(4) The commission may receive tax revenues from any  governmental unit and\nfinancial contributions from local governments, private persons, or foundations.\n(5) The president of the Kentucky Horse Park may, in lieu of the secretary of the\nFinance and Administration Cabinet, declare an emergency for purchasing\npurposes.","path":["KRS Chapter 148"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=54005","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:41Z","sha256":"36f7572207e737ed11d9bee89be9ddbfa905977f7037f65c2cb3306f13999954","source_id":"us-ky","stale":false,"prev":"us-ky/krs-148.310","next":"us-ky/krs-148.400"},"notice":"GroundRules: Original legal text. Not legal advice."}