177.369 Payment of pro rata share of funds appropriated to incorporated cities and counties. (1) On and after the fiscal year beginning July 1, 1980 and each fiscal year thereafter, the Finance and Administration Cabinet shall pay to each incorporated city and county containing an unincorporated urban place its pro rata share of any funds appropriated and any unexpended balance of funds appropriated for construction, reconstruction, and maintenance of urban roads and streets. During each fiscal year, the Finance and Administration Cabinet shall make quarterly payments to each such city and county of the funds set aside and allocated pursuant to KRS 177.365 and 177.366. (2) The expenditure of any money received by the city or county pursuant to the provisions of subsection (1) of this section shall be made solely for the purpose of construction, reconstruction, and maintenance of urban roads and streets set forth in KRS 177.365. (3) Any city or county which has received any money pursuant to the provisions of subsection (1) of this section shall retain all records of the expenditure of such money for a period of five (5) years and said records shall be subject to audit by the Finance and Administration Cabinet for said period of time in order to determine the proper expenditure of said money for the purposes required by KRS 177.365. Effective: July 15, 1988 History: Amended 1988 Ky. Acts ch. 327, sec. 7, effective July 15, 1988. -- Created 1980 Ky. Acts ch. 218, sec. 12, effective July 1, 1980.
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