The cost of administration of the retirement system shall be paid out of the expense fund established for that purpose by the board of trustees. The board of trustees shall be responsible for the approval and administration of the expense fund budget, subject to the limitations imposed by KRS § 161.420(1). Expenses for the operation of the retirement system shall be in such amounts as the board of trustees approves. The board of trustees is authorized to purchase or lease suitable office quarters for the operation of the retirement system.
Effective: July 13, 1990

Terms Used In Kentucky Statutes 161.330

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC

History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 492, effective July
13, 1990. — Amended 1984 Ky. Acts ch. 253, sec. 4, effective July 1, 1984. — Amended 1972 Ky. Acts ch. 82, sec. 6. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4506b-14.