Kentucky Statutes 201.200 – Limitation on expenditures — Board may borrow money
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(1) The board shall not in any one (1) year, expend for the maintenance of the home and the carrying out of the purposes of this chapter, more than the total sum derived through the appropriations for the year as provided in KRS § 201.170, as supplemented by funds given to the board for such purposes and the funds derived from the sale or income of property given to the board for such purposes and by the income of the home for the year.
(2) The board may borrow money on its own credit in anticipation of the revenue to be derived from appropriations or other income for the fiscal year in which the money is borrowed. For such purpose, the board may pledge the appropriations authorized under KRS § 201.160 and 201.170. No money borrowed through the pledge of appropriations authorized under KRS § 201.160 shall be expended for any purposes other than those named in that section; and no money borrowed through the pledge of appropriations authorized under KRS § 201.170 shall be expended for any purposes other than those named in that section.
Effective: June 17, 1954
History: Amended 1954 Ky. Acts ch. 169, sec. 5, effective June 17, 1954. — Recodified
1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 938b-5,
938b-7.
(2) The board may borrow money on its own credit in anticipation of the revenue to be derived from appropriations or other income for the fiscal year in which the money is borrowed. For such purpose, the board may pledge the appropriations authorized under KRS § 201.160 and 201.170. No money borrowed through the pledge of appropriations authorized under KRS § 201.160 shall be expended for any purposes other than those named in that section; and no money borrowed through the pledge of appropriations authorized under KRS § 201.170 shall be expended for any purposes other than those named in that section.
Terms Used In Kentucky Statutes 201.200
- Board: means the body created by KRS §. See Kentucky Statutes 201.010
- 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.
- Home: means the institution to be established and maintained in any county having a city of the first class, in conformity with the provisions of this chapter. See Kentucky Statutes 201.010
- Year: means calendar year. See Kentucky Statutes 446.010
Effective: June 17, 1954
History: Amended 1954 Ky. Acts ch. 169, sec. 5, effective June 17, 1954. — Recodified
1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 938b-5,
938b-7.