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68.310 Limit of expenditures for first half of each fourth year.

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68.310 Limit of expenditures for first half of each fourth year. Except in case of an emergency concerning which the county judge/executive, the fiscal <br>court and the state local finance officer unanimously agree in writing, and, except for <br>encumbrances or expenditures from the county's road fund, no county shall, during the <br>first half of any fourth fiscal year, beginning with the fiscal year 1998-1999, encumber or <br>expend more than sixty-five percent (65%) in any fund budgeted for that fiscal year, not <br>counting as current funds any budgetary allotments for or payments of principal and <br>interest of bonded indebtedness. Prior to encumbering or expending any funds from the <br>road fund during the first half of any fourth fiscal year which exceed sixty-five percent <br>(65%) of the amount budgeted, the fiscal court shall assure that there are sufficient funds <br>remaining in the general fund to provide for the excess encumbrance or expenditure from <br>the road fund on a dollar for dollar basis. Those excess funds shall remain in the general <br>fund until on or after January 1 of that fiscal year. Effective: July 15, 1998 <br>History: Amended 1998 Ky. Acts ch. 291, sec. 1, effective July 15, 1998. -- Amended 1980 Ky. Acts ch. 19, sec. 6, effective July 15, 1980. -- Recodified 1942 Ky. Acts <br>ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 938q-17.