{"data":{"id":"us-ky/krs-97.200","jurisdiction":"us-ky","citation":"KRS 97.200","heading":"Funds for payment of bonds, maintenance and depreciation.","body":"At or before the issuance of bonds the legislative body of the city shall, by ordinance, set\naside and pledge the revenue of the project into a special fund to be used and applied in\npayment of the cost of the project and its maintenance, operation and dep reciation. The\nordinance shall definitely fix the amount of revenue necessary to be set aside and applied\nto the payment of the principal and interest of the bonds, and the portion of the balance of\nthe revenue to be set aside as a proper and adequate depr eciation account, and the\nremaining portion of the balance shall be set aside for the reasonable and proper operation\nand maintenance of the project. The fees to be charged for the use of or admission to the\nproject shall be fixed and revised from time to time so as to be sufficient to provide for\nthe payment of interest upon all bonds and to create a sinking fund to pay the principal\nwhen it becomes due, and to provide for operation and maintenance and an adequate\ndepreciation account. If any surplus is accumulated in the operating and maintenance fund\nequal to the cost of maintaining and operating the project during the remainder of the\ncalendar or fiscal year, the commission may at any time transfer the excess to the\ndepreciation account to be used for any improvements or additions to the project.","path":["KRS Chapter 97"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26376","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:59Z","sha256":"22f9785fcf05961fc9954bea0f42b487597c13e85e364e49cd4c940f8037fe93","source_id":"us-ky","stale":false,"prev":"us-ky/krs-97.190","next":"us-ky/krs-97.210"},"notice":"GroundRules: Original legal text. Not legal advice."}