(1) The board shall consist of five (5) residents of the county who are thirty-five (35) years old or older and have gained excellent repute in the financial community. The board’s members (hereafter called trustees) shall have four (4) year terms except as stated in subsection (2). Trustees may serve successive terms. Trustees shall be appointed by the county judge/executive with the consent of one-half (1/2) of the members (including the county judge/executive) of the fiscal court.
(2) One (1) of the initial terms shall be for one (1) year. Two (2) of the initial terms shall be for two (2) years. The two (2) remaining initial terms shall be for four (4) years. Thereafter, all terms shall be for four (4) years. Not more than three (3) of the initial trustees shall be affiliated with the same political party.

Terms Used In Kentucky Statutes 66.513

  • Bonds: means bonds, notes, commercial paper, and other instruments in writing, authorized by or issued pursuant to or in accordance with this chapter, to evidence an obligation to repay or guarantee the repayment of money borrowed, or to pay interest by, or to pay at any future time other money obligations. See Kentucky Statutes 66.011
  • Year: means calendar year. See Kentucky Statutes 446.010

(3) The fiscal court may require bond of all trustees in such amounts as the court deems proper. The cost of bonds shall be an administrative expense within the meaning of KRS § 66.537.
History: Created 1966 Ky. Acts ch. 232, sec. 2.

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