{"data":{"id":"us-ky/krs-157.010","jurisdiction":"us-ky","citation":"KRS 157.010","heading":"Elements of the school fund.","body":"The school fund shall consist of the fund dedicated by the Constitution and laws of this\nCommonwealth for the purpose of sustaining a system of common schools therein. The\nannual resources of the fund shall consist of:\n(1) The interest on the bond of the C ommonwealth for one million three hundred\ntwenty-seven thousand dollars ($1,327,000) at the rate of six percent (6%) per\nannum payable on the first day of January and July of each year.\n(2) The interest on the proceeds of fifty -two thousand dollars ($52,00 0) formerly\ninvested in Liberty Loan Bonds under authority of Chapter 6 of the Acts of 1920,\nnow invested by the Kentucky Board of Education.\n(3) The dividends from whatever remains of the original investment of seventy -three\nthousand five hundred dollars ($73,500) in the capital stock of the Bank of\nKentucky.\n(4) The interest on the bond of the Commonwealth for three hundred eighty -one\nthousand nine hundred eighty -six dollars and eight cents ($381,986.08) due the\nseveral counties and remaining a perpetual obligation against the Commonwealth\nfor the benefit of the respective counties, at the rate of six percent (6%) per annum\npayable annually on the first day of July to the counties entitled to it and in the\nproportion to which they are entitled, to be used exclusively in aid of common\nschools.\n(5) The interest at six percent (6%) per annum, payable on the first day of January and\nJuly each year, on six hundred six thousand six hundred forty -one dollars and three\ncents ($606,641.03) received from the United S tates under an act approved March\n2, 1891, for which the Commonwealth has executed bond pursuant to Chapter 6 of\nthe Acts of 1892.\n(6) Such sums as are appropriated by the General Assembly in aid of the common\nschools.","path":["KRS Chapter 157"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=3253","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:01Z","sha256":"f0d51ec76dfb36864ce0f9ac4ab5386229abd0a364eb1634d85d6cc4c17d1cf1","source_id":"us-ky","stale":false,"prev":"us-ky/krs-156.990","next":"us-ky/krs-157.014"},"notice":"GroundRules: Original legal text. Not legal advice."}