Kentucky Statutes 66.523 – Public improvements financing plan — Contents — Implementation — Annual report of board
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(1) The board shall prepare a public improvements financing plan which shall become the basis of all its operations including its requests to the fiscal court for appropriations for improvements and facilities described in KRS § 66.520. In preparing the plan the board may use the services of all governmental agencies having any duties in connection with the matters of statewide concern described in KRS § 66.520. The plan shall include in detail the sources of revenue to defray the costs of all projects. Revenue from appropriations made under KRS § 66.520 and planned revenue from annual rental payments shall not be aggregated with each other or any other sources of revenue for any improvement contemplated.
(2) The board shall submit its plan to the fiscal court before incurring any obligation (aside from costs incident to preparation of the plan) with respect to any public improvement. If the fiscal court does not disapprove of the plan in part or as a whole within ninety (90) days from the time the board transmits the plan to the fiscal court, the board may implement the plan to the extent it was not disapproved. The failure of the fiscal court to disapprove the plan, or part of it, shall in no way be deemed to make any obligation incurred by the board under the plan an obligation of the fiscal court.
(3) Annually, at least ninety (90) days prior to the adoption of the proposed county budget pursuant to KRS § 68.240, the board shall submit to the fiscal court a report of its affairs. Any supplements or amendments to the board’s plan shall be included in the report. The fiscal court shall have ninety (90) days to disapprove of any supplements or amendments. Disapproval or the lack of it for all or any parts of the supplements or amendments shall have the same results as subsection (2) orders for the original plan.
(4) No amendment or supplement shall reduce or release any prior obligation of the board without consent of the obligees.
Effective: July 15, 1980
History: Amended 1980 Ky. Acts ch. 19, sec. 10, effective July 15, 1980. — Created
1966 Ky. Acts ch. 232, sec. 5.
(2) The board shall submit its plan to the fiscal court before incurring any obligation (aside from costs incident to preparation of the plan) with respect to any public improvement. If the fiscal court does not disapprove of the plan in part or as a whole within ninety (90) days from the time the board transmits the plan to the fiscal court, the board may implement the plan to the extent it was not disapproved. The failure of the fiscal court to disapprove the plan, or part of it, shall in no way be deemed to make any obligation incurred by the board under the plan an obligation of the fiscal court.
Terms Used In Kentucky Statutes 66.523
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Obligation: means instruments in writing, which are not bonds within the meaning of this chapter, that evidence an obligation to repay money borrowed, or to pay interest by, or to pay at any future time other money obligations, including, without limitation, installment sale, lease, lease purchase, or similar agreements, which obligations bear interest or an interest equivalent. See Kentucky Statutes 66.011
(3) Annually, at least ninety (90) days prior to the adoption of the proposed county budget pursuant to KRS § 68.240, the board shall submit to the fiscal court a report of its affairs. Any supplements or amendments to the board’s plan shall be included in the report. The fiscal court shall have ninety (90) days to disapprove of any supplements or amendments. Disapproval or the lack of it for all or any parts of the supplements or amendments shall have the same results as subsection (2) orders for the original plan.
(4) No amendment or supplement shall reduce or release any prior obligation of the board without consent of the obligees.
Effective: July 15, 1980
History: Amended 1980 Ky. Acts ch. 19, sec. 10, effective July 15, 1980. — Created
1966 Ky. Acts ch. 232, sec. 5.