154.90.020 Executive director -- Use of revenues -- Annual audit. - Kentucky Statutes

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154.90-020 Executive director -- Use of revenues -- Annual audit. (1) The Northern Kentucky Convention Center Corporation may appoint an executive director, who shall hold office at its pleasure. The executive director shall act under
the direction of the board of the corporation in employing necessary staff to perform
its duties and exercise its powers as assigned by KRS 154.90-015. (2) The executive director shall keep all minutes, records, and orders of the corporation, and shall be responsible for the preservation of all the documents, which are public
records subject to KRS 61.870 to 61.884. (3) All revenues derived by the corporation from the use of the Northern Kentucky Convention Center, or contributions to the Northern Kentucky Convention Center
from other sources as authorized in KRS 154.90-015 shall be used solely to defray
the expenses of the Northern Kentucky Convention Center, including payment on
debt; the cost of management and operation of its facilities; the creation of an
adequate reserve for repair, replacement, debt service, and capital improvements;
the procurance of insurance; and promotional activities. Any additional revenues
derived by the corporation from any other source shall similarly be used solely for
the purposes enumerated in this section. An annual audit of all funds of the
corporation and its affiliated entities, if any, shall be made by the State Auditor of
Public Accounts, and reported to the Governor. Effective: July 14, 1992 History: Created 1992 Ky. Acts ch. 99, sec. 4, effective July 14, 1992.