There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
CHAPTER 162 SCHOOL PROPERTY AND BUILDINGS
162.230 Rent -- Disposition to be fixed by ordinance.
Download pdfset aside and pledge the income of the building into a special fund to be used and applied
in payment of the cost and maintenance of the building. The ordinance shall definitely fix
the amount of revenue necessary to be set aside and applied for the payment of the
principal and interest of the bonds. The balance of the income shall be set aside for the
reasonable and proper maintenance of the building, including a sufficient sum to pay the
cost of insurance. The city governing body may provide by ordinance any provision and
stipulation it deems necessary for the administration of the income for the security of the
bondholders. Effective: July 13, 1990
History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 565, effective July 13, 1990. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942,
from Ky. Stat. secs. 4421-13, 4421-17.
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