Kentucky Revised Statutes

Ky. Rev. Stat. § 165.100 (2026)

Purposes for which proceeds may be used

✓ current as of May 2026

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The money derived from the bonds issued under authority of KRS 165.080 shall be used to meet the needs of the university. The authorized use includes the payment for real estate and buildings purchased or to be purchased, the erection and alteration of improvements, and the securing of proper equipment, but does not include the payment of salaries or operating expenses or the payment of any existing indebtedness incurred as an operating expense. History: Amended 1954 Ky. Acts ch. 32, sec. 1. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 2948-4.

Notes of Decisions

Cited in 1 case, 1953–1953 · leading case: City of Louisville v. Kesselring, 257 S.W.2d 599 (Ky. Ct. App. 1953).

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City of Louisville v. Kesselring, 257 S.W.2d 599 (Ky. Ct. App. 1953). “010 and the purposes for which said bonds áre proposed to be sold are authorized by KRS 165.100. The sole questions remaining • for consideration are: (1) In issuing serial bonds as opposed to term bonds, does the statute, KRS 165.”

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