68.127 Emergency floodwall operation fund, fiscal court of county containing city of the first class may establish -- Additions to fund -- Investment of funds -- Gifts.
<br><br>68.127 Emergency floodwall operation fund, fiscal court of county containing city <br>of the first class may establish -- Additions to fund -- Investment of funds -- <br>Gifts. <br>(1) The fiscal court of any county containing a city of the first class is hereby <br>authorized and empowered to establish a fund to be designated and known as an <br>emergency floodwall operation fund and to set aside in said fund and acquire <br>therein from year to year funds for the purpose of operating floodwalls when such <br>operation shall become necessary because of flood or other emergency. The fund <br>herein provided shall be a permanent fund and the sums accumulated shall not be <br>used for any other purpose. <br>(2) The fiscal court of such county may add to the fund from year to year such moneys <br>out of its general revenue as it deems advisable or necessary. <br>(3) All moneys in said fund shall be kept as other county funds, but shall be invested <br>under the supervision of said fiscal court only in obligations of the United States <br>government. <br>(4) Such fiscal court shall have the power, upon the approval of the majority of the <br>members thereof, to receive any funds by gift or devise to be placed in or become a <br>part of such emergency floodwall operation fund upon such terms and conditions as <br>the fiscal court shall deem proper. <br>Effective: May 18, 1956 <br>History: Created 1956 Ky. Acts ch. 21, sec. 1, effective May 18, 1956. <br><br>