KRS 134.140 — Investment of tax revenues until time of distribution -- Disposition of investment earnings

(1) The sheriff may invest any tax revenues held in his or her possession from the time
of collection until the time of distribution to the proper taxing auth orities.
Investments by the sheriff shall be restricted to those permitted by KRS 66.480.
(2) As part of the monthly distribution of taxes to a district board of education as
required by KRS 134.191, the sheriff shall pay to the board of education that par t of
the investment earnings for the month which are attributable to the investment of
school taxes, less an amount not to exceed four percent (4%) of the earned monthly
investment income to reimburse the sheriff for the costs of administering the
investment.
(3) In counties where the sheriff pays fees and commissions collected to the county and
the salaries and expenses of the sheriff's office are paid by the county, the sheriff
shall pay to the county treasurer the investment earnings, other than those pa id to
the board of education in compliance with subsection (2) of this section, at the time
of his or her monthly distribution of taxes to the county required by KRS 134.191.
(4) In those counties where the office of sheriff is funded in whole or in part b y fees
and commissions, the sheriff may use investment earnings, other than those which
must be paid to the board of education in compliance with subsection (2) of this
section, to pay lawful expenses of his or her office.