The funds accumulating to the depreciation account shall be expended in balancing depreciation in the waterworks or in making new constructions, extensions or additions thereto. Any such accumulations may be invested as the city legislative body may designate, and if invested the income from such investments shall be carried into the depreciation account.
KRS 96.450
Expenditure and investment of depreciation fund
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.