Any authority in which is vested the power to provide, conduct and maintain parks, playgrounds, and recreation centers under KRS § 97.030 or 97.035, may accept any grant or devise of real estate or any bequest or gift of money or any donation, the principal or income of which is to be used for park, playground, or recreation purposes. Money received for such purposes shall, unless otherwise provided by the terms of the bequest, be deposited with the treasurer or department of finance of the city or with the county treasurer or treasurer of the joint board to the account of the authority having charge of such parks, playgrounds, and recreation centers and may be withdrawn and paid out in the same manner as money appropriated for recreational purposes.
Effective: June 19, 1958
lawyer at desk

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Kentucky Statutes 97.040

  • Bequest: Property gifted by will.
  • City: includes town. See Kentucky Statutes 446.010
  • Devise: To gift property by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010

History: Amended 1958 Ky. Acts ch. 124, sec. 5, effective June 19, 1958. — Recodified
1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 3909a-
5.

  Previous section
Next section  
 Chapter 97 Contents