(1) The fiscal court of any county is hereby authorized and empowered to establish a fund to be designated and known as a land and building fund and to set aside in said fund and acquire therein from year to year funds for the purpose of acquiring lands and im proving same, and for the erection, maintaining, improving and reconstruction of necessary buildings and other improvements for the use of such county; such fund to be a permanent fund as herein provided. (2) The fiscal court of such county whenever it sh all so determine may use the moneys in such fund to acquire and purchase such lands as it may see fit, and in such manner and at such places in said county as it may see fit, title thereto being taken in the name of such county, and may erect such improvements on said or other lands as said court may deem necessary and proper for the use of such county. (3) The fiscal court at the time of fixing the rate of the tax levies for said county may fix a tax levy to be part of and included in the general fund lev y, the amount realized from such levy to be set aside for and become part of such building fund, but in no event shall said fund become a part of the general revenue fund of the county under the provisions of KRS 68.120. (4) All moneys in said fund shall be kept as other county funds, but shall be invested under the supervision of said fiscal court only in obligations of the United States government. (5) Such fiscal court shall have the power upon the approval of the majority of the members thereof to rec eive any funds by gift or devise to be placed in and become part of such building fund upon such terms and conditions as such members shall deem proper. (6) Nothing contained in this section shall be construed as affecting or limiting the right of any county to acquire lands or to improve lands, erect or maintain, or reconstruct buildings as is otherwise authorized by law.
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