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96.200 Use of profits from city owned public utility.

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96.200 Use of profits from city owned public utility. Except as otherwise provided in KRS 96.550 to 96.900 the legislative body of any city of <br>the third through sixth classes inclusive may, by ordinance, provide in what manner and <br>for what purpose any profits, earnings or surplus funds arising from the operation of any <br>public utility owned or operated by the city may be used and expended. The ordinance <br>may be amended or repealed from time to time. Until such an ordinance is enacted any <br>surplus earnings shall be paid into the city treasury, to be expended for the general <br>purposes of government in the city. Effective: June 16, 1960 <br>History: Amended 1960 Ky. Acts ch. 231, sec. 1, effective June 16, 1960. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 3490-<br>35.