2006 Kentucky Revised Statutes - .090   Officers, agents, and employees -- Contracts with financial institutions.

293.090 Officers, agents, and employees -- Contracts with financial institutions. The authority may employ such officers, agents and employees as it may require and determine their qualifications, terms of office, duties and compensation. In addition to such contracts as the authority may find it necessary to enter into with banks for the distribution or redemption of bonds, the authority shall contract with one (1) or more appropriate financial institutions for coordinating and accounting for the cash flow and accounting for and maintaining custody of bond blanks, and the authority shall contract with one (1) or more appropriate investment counsellors to advise in the investment of funds received from the sale of bonds. No investment of proceeds from the sale of bonds shall be made without the advice of an investment counsellor so retained. Effective: July 1, 1972 History: Created 1972 Ky. Acts ch. 368, sec. 9, effective July 1, 1972.