If a surplus is accumulated in the operating and maintenance funds equal to the cost of maintaining and operating the airport facilities during the remainder of the calendar, operating or fiscal year, and during the succeeding like year, any excess over such amount may be transferred at any time by the legislative body of the governmental unit to the depreciation account, to be used for improvements, extensions or additions to the airport facilities or the air navigation facilities.
History: Amended 1964 Ky. Acts ch. 134, sec. 13. — Amended 1960 Ky. Acts ch. 179, sec. 46. — Created 1945 (1st Extra. Sess.) Ky. Acts ch. 3, sec. 8.

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Terms Used In Kentucky Statutes 183.690

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • governmental unit: means any city, or the combination of any two (2) or more thereof, or any county, urban-county government, or combination of two (2) or more such counties, city or cities, acting jointly with any county or counties or an airboard or board established as provided in this chapter. See Kentucky Statutes 183.012
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Year: means calendar year. See Kentucky Statutes 446.010
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