Moneys received by the authority as rentals under any lease, and from the sale of bonds, are declared not to be funds of the Commonwealth but shall be corporate funds of the authority to be held, administered, invested, and disbursed as trust funds under the terms, provisions, pledges, covenants, and agreements set forth in its leases and bond resolutions and bonds.
Effective: July 13, 1990
lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Kentucky Statutes 162.550

  • 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History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 586, effective July
13, 1990. — Created 1960 Ky. Acts ch. 81, sec. 5, effective June 16, 1960.

  Previous section
Next section  
 Chapter 162 Contents