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148.320 Use of revenues -- Deposit of funds -- Accounts and reports.

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148.320 Use of revenues -- Deposit of funds -- Accounts and reports. (1) All revenues derived by the commission from the use of properties and facilities under its custody and control shall be used exclusively for the purpose of defraying <br>the expenses of the commission, the cost of the management and operation of such <br>properties and facilities, the payment of interest and principal upon any <br>indebtedness incurred by the commission for such properties and facilities, the <br>creation of adequate reserves for the repair and replacement thereof and for the <br>financing of further extensions, improvements, and additions thereto. Included in <br>the cost of operation may be such promotional activities as the commission may <br>determine upon as calculated to stimulate and increase the use and the revenues of <br>such facilities, and to increase and stimulate the interest and usefulness of the State <br>Horse Park. (2) The commission shall generally cause its funds to be deposited in the State Treasurer's office to be withdrawn on appropriate vouchers approved by the <br>commission. (3) An annual accounting of the funds of the commission shall be made by the Auditor of Public Accounts and reported to the Governor for the benefit of the Governor and <br>the General Assembly. Effective: July 15, 1986 <br>History: Amended 1986 Ky. Acts ch. 96, sec. 8, effective July 15, 1986. -- Amended 1982 Ky. Acts ch. 396, sec. 21, effective July 15, 1982. -- Created 1979 (1st Extra. <br>Sess.) Ky. Acts ch. 6, sec. 7, effective July 1, 1979.