The funds accumulated in the depreciation account shall be expended in balancing the depreciation in the works of the district or in making new construction, extensions or additions. Any such accumulations may be invested by the board of directors in the manner authorized by statute for other trust funds. The income from such investments shall be carried in the depreciation account.
KRS 220.460
Use of depreciation fund -- Investment
Effective: October 1, 1942 History: Recodified 1942 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.