Kentucky Statutes 198A.190 – Authority to accept and expend funds
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The corporation is authorized to accept and expend such moneys as may be appropriated from time to time by the General Assembly or such moneys as may be received from any source including income from the corporation‘s operations, for effectuating its corporate purposes including, without limitation, the payment of the initial expenses of administration and operation and the establishment of a reserve or contingency fund to be available for the payment of the principal of and the interest on any bonds or notes of the corporation.
History: Amended 1974 Ky. Acts ch. 383, sec. 7. — Created 1972 Ky. Acts ch. 70, sec.
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History: Amended 1974 Ky. Acts ch. 383, sec. 7. — Created 1972 Ky. Acts ch. 70, sec.
Terms Used In Kentucky Statutes 198A.190
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the Kentucky Housing Corporation created by this chapter. See Kentucky Statutes 198A.010
- notes: means the bonds or bond anticipation notes authorized to be issued by the corporation under this chapter but shall not include any fund notes. See Kentucky Statutes 198A.010
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