<br><br>65.140 Local governments required to pay for purchases within 30 days -- Interest <br>penalty. <br>(1) As used in this section, unless the context otherwise requires, "purchaser" means <br>any city, county, or urban-county government which receives goods or services <br>from a vendor. <br>(2) Unless the purchaser and vendor otherwise contract, all bills for goods or services <br>shall be paid within thirty (30) working days of receipt of a vendor's invoice except <br>when payment is delayed because the purchaser has made a written disapproval of <br>improper performances or improper invoicing by the vendor or by the vendor's <br>subcontractor. <br>(3) An interest penalty of one percent (1%) of any amount approved and unpaid shall be <br>added to the amount approved for each month or fraction thereof after the thirty (30) <br>working days which followed receipt of vendor's invoice by the purchaser. <br>Effective: July 13, 1990 <br>History: Created 1990 Ky. Acts ch. 154, sec. 1, effective July 13, 1990. <br><br>