Kentucky Statutes 224A.318 – Water management assistance fund
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(1) The water management assistance fund shall be established in the State Treasury and shall be administered by the authority.
(2) The fund shall be a dedicated fund, and all moneys in the fund shall be allocated for and dedicated to providing financial assistance for both capital and non-capital expenses for governmental agencies that:
(a) Provide public drinking water or wastewater services to ratepayers in the
Commonwealth; and
(b) Are considered financially at risk.
(3) The fund may receive donations and gifts, state and federal appropriations, federal grants or loans, and revenues or proceeds from the sale of bonds or from other financial instruments. The fund may receive proceeds from the authority’s revolving fund, as available, and if not contrary to the requirements which establish and govern the management and use of those funds.
(4) Moneys in the fund shall not lapse but shall be carried forward to the next fiscal year and used solely for the stated purposes in this section and KRS § 224A.316.
Effective: July 14, 2022
History: Created 2022 Ky. Acts ch. 177, sec. 2, effective July 14, 2022.
(2) The fund shall be a dedicated fund, and all moneys in the fund shall be allocated for and dedicated to providing financial assistance for both capital and non-capital expenses for governmental agencies that:
Terms Used In Kentucky Statutes 224A.318
- Authority: means the Kentucky Infrastructure Authority, which is created by this chapter. See Kentucky Statutes 224A.011
- Federal: refers to the United States. See Kentucky Statutes 446.010
- 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.
- State: means the Commonwealth of Kentucky. See Kentucky Statutes 224A.011
- Wastewater: means any water or liquid substance containing sewage, industrial waste, or other pollutants or contaminants derived from the prior use of these waters. See Kentucky Statutes 224A.011
(a) Provide public drinking water or wastewater services to ratepayers in the
Commonwealth; and
(b) Are considered financially at risk.
(3) The fund may receive donations and gifts, state and federal appropriations, federal grants or loans, and revenues or proceeds from the sale of bonds or from other financial instruments. The fund may receive proceeds from the authority’s revolving fund, as available, and if not contrary to the requirements which establish and govern the management and use of those funds.
(4) Moneys in the fund shall not lapse but shall be carried forward to the next fiscal year and used solely for the stated purposes in this section and KRS § 224A.316.
Effective: July 14, 2022
History: Created 2022 Ky. Acts ch. 177, sec. 2, effective July 14, 2022.