(1) The state local debt officer and the state local finance officer within the Department for Local Government shall exercise the following administrative functions of th e state: (a) The state local debt officer shall exercise all administrative functions as provided in the county debt act, KRS 66.280 to 66.390, and administrative functions relating to local government bonds as provided in KRS 66.045; and (b) The state loc al finance officer shall exercise all administrative functions regarding county and local government budgets, as provided in KRS 68.210 to 68.360. (2) The state local debt officer shall have the following powers and duties: (a) To require reports from loca l governments to enable him to adequately provide the technical and advisory assistance authorized by this section. The reports shall provide the necessary information for a complete file on local government debt, which the state local debt officer shall k eep open for public inspection at the Department for Local Government; (b) To conduct studies in debt management, including ways and means of appraising the terms of alternative bids; (c) To request assistance and information, which shall be provided by al l departments, divisions, boards, bureaus, commissions, and other agencies of state government, to enable the state local debt officer to carry out his duties under this section; and (d) To compile and publish annually a report which shall include detailed information on local government long -term debt issued and retired during the previous year and outstanding, and other available statistical data on local government finances. (3) The state local finance officer shall have the following powers and duties: (a) To coordinate for the Governor the state's responsibility for, and shall be responsible for liaison with the appropriate state and federal agencies with respect to, general revenue sharing for local government; (b) To provide technical assistance and i nformation to units of local government on matters including but not limited to fiscal management, purchases, and contracts; and (c) To conduct training programs to instruct county and other local officials respecting their duties and responsibilities in t he collection, expenditure, and management of public moneys subject to their control and jurisdiction.
‹ Prev All Kentucky sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.