The proceeds derived from the sale of the aforesaid bonds shall be held or invested by the State Property and Buildings Commission in the same manner and under the same restrictions set forth in KRS 177.615 as to the sinking fund and shall be used solely and only by the Department of Highways of the Commonwealth of Kentucky to match federal funds allocated to Kentucky for the construction and reconstruction of highways, tunnels and bridges within the Commonwealth of Kentucky.
KRS 177.620
Investment or deposit of proceeds derived from sale of bonds -- Use of proceeds
Effective: June 26, 1956 History: Created 1956 (2nd Extra
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.