Statutes > Kentucky Statutes > CHAPTER 177 STATE AND FEDERAL HIGHWAYS -- LIMITED ACCESS FACILITIES -- TURNPIKES -- ROAD BONDS -- BILLBOARDS -- RECYCLERS > 177.615 Investment or deposit of amounts received for sinking fund.

177.615 Investment or deposit of amounts received for sinking fund.

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177.615 Investment or deposit of amounts received for sinking fund. The State Property and Buildings Commission may invest any amounts received for the <br>sinking fund provided in KRS 177.580 to 177.630 in interest-bearing obligations of the <br>United States or the purchase of the bonds authorized by KRS 177.580 to 177.630, or <br>they may deposit said amounts in any state or national bank or trust company of <br>Kentucky, but each such deposit shall be adequately secured by a corporate surety bond in <br>some good and solvent corporate surety company authorized to do business in Kentucky, <br>or by the deposit of United States government bonds which are direct obligations of the <br>United States of America in an amount equal to each such deposit. Effective: June 26, 1956 <br>History: Created 1956 (2nd Extra. Sess.) Ky. Acts ch. 3, sec. 8, effective June 26, 1956.