Statutes > Kentucky Statutes > CHAPTER 177 STATE AND FEDERAL HIGHWAYS -- LIMITED ACCESS FACILITIES -- TURNPIKES -- ROAD BONDS -- BILLBOARDS -- RECYCLERS > 177.620 Investment or deposit of proceeds derived from sale of bonds -- Use of proceeds.

177.620 Investment or deposit of proceeds derived from sale of bonds -- Use of proceeds.

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177.620 Investment or deposit of proceeds derived from sale of bonds -- Use of proceeds. The proceeds derived from the sale of the aforesaid bonds shall be held or invested by the <br>State Property and Buildings Commission in the same manner and under the same <br>restrictions set forth in KRS 177.615 as to the sinking fund and shall be used solely and <br>only by the Department of Highways of the Commonwealth of Kentucky to match federal <br>funds allocated to Kentucky for the construction and reconstruction of highways, tunnels <br>and bridges within the Commonwealth of Kentucky. Effective: June 26, 1956 <br>History: Created 1956 (2nd Extra. Sess.) Ky. Acts ch. 3, sec. 9, effective June 26, 1956.