Kentucky Statutes 175.800 – Funds credited to state transportation fund (road fund) to be used for lease rental payments
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Funds credited to the state transportation fund (road fund) shall be used for the purposes of paying the annual lease rental payments to the Kentucky Turnpike Authority for economic development road projects. Any funds deposited to the credit of the transportation fund (road fund) in excess of the amount required for any such annual lease payments shall be used for any lawful purposes of the transportation fund (road fund).
Effective: July 15, 1980
History: Created 1980 Ky. Acts ch. 393, sec. 6, effective July 15, 1980.
Effective: July 15, 1980
Terms Used In Kentucky Statutes 175.800
- authority: shall mean the Turnpike Authority of Kentucky. See Kentucky Statutes 175.410
- lease: shall mean a written lease made by the authority as lessor and the department as lessee under the provisions of KRS §. See Kentucky Statutes 175.410
- 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
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
History: Created 1980 Ky. Acts ch. 393, sec. 6, effective July 15, 1980.