68.127 Emergency floodwall operation fund, fiscal court of county containing city of the first class may establish -- Additions to fund -- Investment of funds -- Gifts. - Kentucky Statutes

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68.127 Emergency floodwall operation fund, fiscal court of county containing city of the first class may establish -- Additions to fund -- Investment of funds --
Gifts. (1) The fiscal court of any county containing a city of the first class is hereby authorized and empowered to establish a fund to be designated and known as an
emergency floodwall operation fund and to set aside in said fund and acquire
therein from year to year funds for the purpose of operating floodwalls when such
operation shall become necessary because of flood or other emergency. The fund
herein provided shall be a permanent fund and the sums accumulated shall not be
used for any other purpose. (2) The fiscal court of such county may add to the fund from year to year such moneys out of its general revenue as it deems advisable or necessary. (3) All moneys in said fund shall be kept as other county funds, but shall be invested under the supervision of said fiscal court only in obligations of the United States
government. (4) Such fiscal court shall have the power, upon the approval of the majority of the members thereof, to receive any funds by gift or devise to be placed in or become a
part of such emergency floodwall operation fund upon such terms and conditions as
the fiscal court shall deem proper. Effective: May 18, 1956
History: Created 1956 Ky. Acts ch. 21, sec. 1, effective May 18, 1956.