The funds accumulating to the depreciation account shall be expended in balancing depreciation in the waterworks or in making new constructions, extensions or additions thereto. Any such accumulations may be invested as the water district commissioners or city legislative body may designate and if invested the income from such investments shall be carried into the depreciation account.
Effective: June 17, 1954
History: Created 1954 Ky. Acts ch. 18, sec. 13, effective June 17, 1954.