{"data":{"id":"us-ky/krs-173.360","jurisdiction":"us-ky","citation":"KRS 173.360","heading":"Annual appropriations, amounts -- Powers and duties of board as to funds.","body":"(1) After the legislative body of a governmental unit has made provisions for library\nservice according to any of the methods set forth in KRS 173.310, the legislative\nbody shall appropriate money annually to furnish such service. In library regions it\nshall not be less than three cents ($0.03), nor more than ten cents ($0.10) on each\none hundred dollars ($100) worth of property assessed for local taxation. In counties\ncontaining a city of the first class it shall be not more than fifteen cents ($0.15) on\neach one hundred dollars ($100) worth of property assessed for local taxation. In all\nother governmental units it shall be not less than five cents ($0.05) nor more than\nfifteen cents ($0.15) on each one hundred dollars ($100) worth of property assessed\nfor local taxation. In those instances where county library service has been\nestablished on the initiative of the fiscal court and when an appropriation of less\nthan the minimum amount required by this subsection is proposed, the minimum\namount of support for  county library service may be determined annually through a\nmutual agreement of the county library board, the county fiscal court, and the state\nDepartment for Libraries and Archives. This agreement shall be reflected in the\nrecords of the legislative body of the governmental unit making the appropriation.\n(2) All funds for the library shall be deposited monthly to the credit of the library board.\nThese funds shall not be used for any but library purposes. The treasurer of the\nlibrary board shall be requir ed to execute bond with good and sufficient surety\nthereon for the faithful performance of his duties, the amount of the bond to be\nfixed by the board. If the bond has a corporate surety the premium shall be paid\nfrom the library fund. The board shall have  exclusive control of expenditures,\nsubject to an examination of accounts as may be required by the legislative body,\nand money shall be paid only upon vouchers approved by the board. The board shall\nnot make expenditures or incur indebtedness in any year in excess of the amount of\nmoney appropriated and available for library purposes, except where a library board\nis the owner of real estate not used for library purposes, in which case they may\nborrow money secured solely by that property. Principal and int erest on\nindebtedness on real estate owned by a library board not used for library purposes is\nnot chargeable to the library funds derived from taxation.","path":["KRS Chapter 173"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=4941","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:24Z","sha256":"5da171cf7b97730e7fb9079439f9a37b3d98fb15abc3256c1fc379840f00d59a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-173.350","next":"us-ky/krs-173.370"},"notice":"GroundRules: Original legal text. Not legal advice."}