{"data":{"id":"us-ky/krs-183.680","jurisdiction":"us-ky","citation":"KRS 183.680","heading":"Maintenance, operation and depreciation funds -- Rates.","body":"At or before the issuance of bonds the legislative body of the governmental unit shall, by\nordinance or resolution, set aside and pledge the income and revenue of the airport\nfacilities into a separate and special fund to be used and applied in payment of the cost\nthereof and in the maintenance, operation and depreciation thereof. The ordinance or\nresolution shall definitely fix and determine the amount of revenue necessary to be set\napart and applied to the payment of principal and interest of the bonds an d the proportion\nof the balance of the income and revenue to be set aside as a proper and adequate\ndepreciation account, and the remaining proportion of such balance shall be set aside for\nthe reasonable and proper operation and maintenance of the airport facilities. The rates\nand fees to be charged for the services of the airport facilities shall be fixed and revised\nfrom time to time so as to be sufficient to provide for payment of interest upon all bonds\nand to create a sinking fund to pay the principal thereof when due, and to provide for the\noperation and maintenance of the airport facilities and an adequate depreciation account.\nThe provision of KRS 183.137(2) that the money derived from the use of the airport shall\nbe first applied to the maintenance of the airport shall not apply in the case of airport\nfacilities for which revenue bonds have been issued under KRS 183.630 to 183.740.","path":["KRS Chapter 183"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=5809","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:35Z","sha256":"a5692fe1da5439230fa39a489c3c8b2536dd8e09346200e3fd3c9c946686900f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-183.670","next":"us-ky/krs-183.690"},"notice":"GroundRules: Original legal text. Not legal advice."}