The amount paid by any district to the division for amortization of a loan or for payment on a lease shall be made monthly. This amount shall be credited to a revolving fund and the costs of any new equipment or infrastructure shall be charged to the same account. Neither the appropriation herein made nor the revolving fund shall be used for any purpose other than to make available to soil and water conservation districts the equipment or infrastructure of the type referred to in KRS § 262.610.
Effective: June 26, 2007
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Terms Used In Kentucky Statutes 262.640

  • Amortization: Paying off a loan by regular installments.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC

History: Amended 2007 Ky. Acts ch. 51, sec. 5, effective June 26, 2007. — Amended
1966 Ky. Acts ch. 23, sec. 66. — Created 1948 Ky. Acts ch. 79, sec. 1.

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