224A.110 Deposit of moneys.
All moneys derived by the authority pursuant to assistance agreements other than those <br>assistance agreements funded under KRS 224A.111 and 224A.112 shall be received by <br>the authority as constituting authority revenues, and shall, in common with other authority <br>revenues, be immediately deposited into such funds or accounts as the authority shall <br>designate. Moneys derived by the authority pursuant to assistance agreements funded <br>under KRS 224A.111 and all federal and state money or proceeds from the sale of <br>revenue bonds of the authority received in support of assistance agreements funded under <br>KRS 224A.111 shall be deposited into an account designated as the "federally assisted <br>wastewater revolving fund." Moneys derived by the authority pursuant to assistance <br>agreements funded under KRS 224A.112 and all state money or proceeds from the sale of <br>revenue bonds of the authority received in support of KRS 224A.112 shall be deposited <br>into an account designated as the "infrastructure revolving fund." All authority revenues <br>shall, before being expended for any other purposes of the authority, first be applied to <br>the payment of the principal of and interest on authority revenue bonds in accordance <br>with the resolution authorizing their issuance, as, and when the same become due and <br>payable.
Effective: March 31, 1988 <br>History: Amended 1988 Ky. Acts ch. 124, sec. 10, effective March 31, 1988. -- Created
1972 Ky. Acts ch. 329, sec. 11.
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