2013 Kentucky Revised Statutes CHAPTER 65 - GENERAL PROVISIONS APPLICABLE TO COUNTIES, CITIES, AND OTHER LOCAL UNITS 65.2004 Periodic payment of damages.
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65.2004 Periodic payment of damages.
(1)
(2)
Upon motion of a local government against which final judgment has been
rendered for a claim within the scope of KRS 65.200 to 65.2006, the court, in
accordance with subsection (2) of this section, may include in such judgment a
requirement that the judgment be paid in whole or in part by periodic payments.
Periodic payments may be ordered paid over a period of time not exceeding
ten (10) years. Any periodic payment, upon becoming due under the terms of
the judgment, shall constitute a separate judgment. Any judgment ordering any
such payments shall specify the total amount awarded, the amount of each
payment, the interval between payments and the number of payments to be
paid under the judgment. Judgments paid pursuant to this section shall bear
interest accruing from the date final judgment is entered, at the interest rate as
specified in KRS 360.040. For good cause shown, the court may modify such
judgment with respect to the amount of such payments and the number of
payments, but the total amount of damages awarded by such judgment shall
not be subject to modification in any event and periodic payments shall not be
ordered paid over a period in excess of ten (10) years.
A court may order periodic payment only upon finding that:
(a) Payment of the judgment is not totally covered by insurance; and
(b) Funds for the current budget year and other funds of the local
government which lawfully may be utilized to pay judgments are
insufficient to finance both the adopted budget of expenditures for the
year and the payment of that portion of the judgment not covered by
insurance.
Effective:July 15, 1988
History: Created 1988 Ky. Acts ch. 224, sec. 19, effective July 15, 1988.
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