Statutes > Kentucky Statutes > CHAPTER 67 COUNTY GOVERNMENT (FISCAL COURTS AND COUNTY COMMISSIONERS) > 67.520 Special fund created -- Bond payment -- Building maintenance.

67.520 Special fund created -- Bond payment -- Building maintenance.

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67.520 Special fund created -- Bond payment -- Building maintenance. At or before the issuance of the bonds, the county buildings commission by resolution <br>shall set aside and pledge the income of the building into a special fund to be used and <br>applied in payment of the cost and maintenance of the building. The resolution shall <br>definitely fix the amount of revenues necessary to be set aside and applied for the <br>payment of principal and interest on the bonds. The balance of the income shall be set <br>aside for the reasonable and proper maintenance of the building, including a sufficient <br>sum to pay the cost of insurance. The county buildings commission may provide by <br>resolution any provision and stipulation it deems necessary for the administration of the <br>income for the security of the bond holders. History: Created 1962 Ky. Acts ch. 224, sec. 15.