{"data":{"id":"us-ky/krs-224a.170","jurisdiction":"us-ky","citation":"KRS 224A.170","heading":"Authority's money deemed to be trust fund.","body":"Notwithstanding any other provisions of law to the contrary, all moneys, funds,\nproperties, and assets acquired by the authority, pursuant to this chapter, whether as\nproceeds from the sale of authority revenue bonds or notes, or as authority revenues, or\notherwise, shall be deemed to be trust funds, to be held and applied solely as provided by\nthis chapter; and same shall be held by the authority in trust for the purposes of carrying\nout its powers and duties and for the payment of the authority's revenue bonds or notes,\nboth as to principal and interest, and shall be used and reused as provided in this chapter\nand shall at no time be deemed to be public funds of the Commonwealth, or of any\nagency or department thereof. The resolutions of the authority auth orizing any revenue\nbonds or notes, or any trust indenture securing the same, may provide that any such\nmoneys, funds, properties, and assets may be temporarily invested pending the\ndisbursement thereof, and shall provide that any officer with whom, or any  bank or trust\ncompany with which, any moneys shall be deposited, shall act as trustee of such assets\nand shall hold and apply the same for the purposes of this chapter, subject to such\nconditions, restrictions, requirements, limitations, and mandatory inv estment procedures\nand requirements as this chapter, and such authorizing resolutions of the authority, or\ntrust indenture, may provide. Any such moneys, funds, properties, and assets or any other\nmoneys of the authority may be invested as provided by KRS 386.020, in addition to such\nprovisions for investment as may be enacted by resolution of the authority.","path":["KRS Chapter 224A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=10578","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:52:43Z","sha256":"7b8f6f0ab816dde389ab8934ac140716ac5f3e56a3f37b9a80525be75f3ac9ce","source_id":"us-ky","stale":false,"prev":"us-ky/krs-224a.165","next":"us-ky/krs-224a.180"},"notice":"GroundRules: Original legal text. Not legal advice."}