173.360 Annual appropriations, amounts -- Powers and duties of board as to funds. - Kentucky Statutes

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173.360 Annual appropriations, amounts -- Powers and duties of board as to funds. (1) After the legislative body of a governmental unit has made provisions for library service according to any of the methods set forth in KRS 173.310, the legislative
body shall appropriate money annually to furnish such service. In library regions it
shall not be less than three cents ($0.03), nor more than ten cents ($0.10) on each
one hundred dollars ($100) worth of property assessed for local taxation. In counties
containing a city of the first class it shall be not more than fifteen cents ($0.15) on
each one hundred dollars ($100) worth of property assessed for local taxation. In all
other governmental units it shall be not less than five cents ($0.05) nor more than
fifteen cents ($0.15) on each one hundred dollars ($100) worth of property assessed
for local taxation. In those instances where county library service has been
established on the initiative of the fiscal court and when an appropriation of less
than the minimum amount required by this subsection is proposed, the minimum
amount of support for county library service may be determined annually through a
mutual agreement of the county library board, the county fiscal court, and the state
Department for Libraries and Archives. This agreement shall be reflected in the
records of the legislative body of the governmental unit making the appropriation. (2) All funds for the library shall be deposited monthly to the credit of the library board. These funds shall not be used for any but library purposes. The treasurer of the
library board shall be required to execute bond with good and sufficient surety
thereon for the faithful performance of his duties, the amount of the bond to be
fixed by the board. If the bond has a corporate surety the premium shall be paid
from the library fund. The board shall have exclusive control of expenditures,
subject to an examination of accounts as may be required by the legislative body,
and money shall be paid only upon vouchers approved by the board. The board shall
not make expenditures or incur indebtedness in any year in excess of the amount of
money appropriated and available for library purposes, except where a library board
is the owner of real estate not used for library purposes, in which case they may
borrow money secured solely by that property. Principal and interest on
indebtedness on real estate owned by a library board not used for library purposes is
not chargeable to the library funds derived from taxation. History: Amended 1964 Ky. Acts ch. 55, sec. 3. -- Amended 1960 Ky. Acts ch. 61, sec. 2. -- Created 1944 Ky. Acts ch. 160, sec. 7.