{"data":{"id":"us-ky/krs-58.070","jurisdiction":"us-ky","citation":"KRS 58.070","heading":"Maintenance, operating and depreciation funds -- Rentals, rates and","body":"charges.\nAt or before the issuance of bonds the governmental agency shall, by order, resolution or\nordinance, set aside and pledge the income and revenue of the public project including\nrents, royalties, fees and proceeds of sales of property and from rates and ch arges for\nservices derived from or rendered by the public project into a separate and special fund to\nbe used and applied in payment of the cost thereof and in the maintenance, operation and\ndepreciation thereof. The order, resolution or ordinance shall de finitely fix and determine\nthe amount of revenue necessary to be set apart and applied to the payment of principal\nand interest of the bonds, and the proportion of the balance of the income and revenue to\nbe set aside as a proper and adequate depreciation account, and the remaining proportion\nof such balance shall be set aside for the reasonable and proper operation and\nmaintenance of the public project. The rents, royalties, fees, rates and charges for the\nservices or sale of the public project shall be fi xed and revised from time to time so as to\nbe sufficient to provide for payment of interest upon all bonds and to create a sinking\nfund to pay the principal thereof when due, and to provide for the operation and\nmaintenance of the public project and an adequate depreciation account.","path":["KRS Chapter 58"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=22814","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:13Z","sha256":"fc25a8e8624c3a904fcedaa2f014e18de0850c935fb6f1b65f8883c6ba82a1b4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-58.060","next":"us-ky/krs-58.080"},"notice":"GroundRules: Original legal text. Not legal advice."}