Statutes > Kentucky Statutes > CHAPTER 67A URBAN-COUNTY GOVERNMENT > 67A.890 Proceeds to be kept in separate account -- Sinking fund.

67A.890 Proceeds to be kept in separate account -- Sinking fund.

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67A.890 Proceeds to be kept in separate account -- Sinking fund. The proceeds received by the government from each annual improvement assessment <br>levy made in connection with the project, as authorized by KRS 67A.871 to 67A.894, <br>shall be segregated from and kept always separate and apart from all other receipts of the <br>government from all other sources, and shall be deposited in a separate and special <br>account in a financial institution in an account so specially designated by number or other <br>designation as to identify it in such manner as to distinguish the receipts and deposits <br>from the project from the receipts and deposits from every other project, and from any <br>other account or fund of the government. It shall constitute the &quot;sinking fund&quot; referred to <br>in KRS 67A.871 to 67A.894. Effective: March 30, 1976 <br>History: Created 1976 Ky. Acts ch. 371, sec. 20, effective March 30, 1976.