165.100 Purposes for which proceeds may be used.
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165.100 Purposes for which proceeds may be used. The money derived from the bonds issued under authority of KRS 165.080 shall be used <br>to meet the needs of the university. The authorized use includes the payment for real <br>estate and buildings purchased or to be purchased, the erection and alteration of <br>improvements, and the securing of proper equipment, but does not include the payment of <br>salaries or operating expenses or the payment of any existing indebtedness incurred as an <br>operating expense. History: Amended 1954 Ky. Acts ch. 32, sec. 1. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 2948-4.
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