{"data":{"id":"us-ky/krs-212.480","jurisdiction":"us-ky","citation":"KRS 212.480","heading":"Depository for funds.","body":"The board shall annually select a bank, or banks, or banking institutions for the current\ndeposit of the board's funds for the current operating expenses and which bank, or banks\nor banking institutions shall give and maintain a bond, or bonds, or other fo rm of security\nto be approved by the mayor and the county judge/executive, said bond, or bonds or other\nforms of security to be conditioned upon the safekeeping and prompt payment of said\nfunds placed in said depository when demanded by a duly authorized officer of the board.\nThe amount of said bond, or bonds or other form of security shall be, in the discretion of\nthe board, the mayor and the county judge/executive, in any amount not less than one\nhundred thousand dollars ($100,000), or said depository, in lieu of said bond and with the\napproval of the board, the mayor and county judge/executive, may place in escrow or\nunder the joint control of an officer of said depository and the chairman of the board,\nUnited States bonds or other United States securitie s of an amount not less than one\nhundred thousand dollars ($100,000).","path":["KRS Chapter 212"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=8631","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:15Z","sha256":"96cb3f4dcc8f468ba8890f23b1ddafd9de6aab1ec07a47c02b2ddfd67b06461c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-212.470","next":"us-ky/krs-212.490"},"notice":"GroundRules: Original legal text. Not legal advice."}