# KRS § 157.010: 157.010 Elements of the school fund > Kentucky · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.010 ## Section - **Citation:** KRS § 157.010 - **Heading:** 157.010 Elements of the school fund - **Jurisdiction:** Kentucky - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** KY Code / Title XIII / Chapter 157 / Section 157.010 ## Text 157.010 Elements of the school fund. The school fund shall consist of the fund dedicated by the Constitution and laws of this Commonwealth for the purpose of sustaining a system of common schools therein. The annual resources of the fund shall consist of: (1) The interest on the bond of the Commonwealth for one million three hundred twenty-seven thousand dollars ($1,327,000) at the rate of six percent (6%) per annum payable on the first day of January and July of each year. (2) The interest on the proceeds of fifty-two thousand dollars ($52,000) formerly invested in Liberty Loan Bonds under authority of Chapter 6 of the Acts of 1920, now invested by the Kentucky Board of Education. (3) The dividends from whatever remains of the original investment of seventy-three thousand five hundred dollars ($73,500) in the capital stock of the Bank of Kentucky. (4) The interest on the bond of the Commonwealth for three hundred eighty-one thousand nine hundred eighty-six dollars and eight cents ($381,986.08) due the several counties and remaining a perpetual obligation against the Commonwealth for the benefit of the respective counties, at the rate of six percent (6%) per annum payable annually on the first day of July to the counties entitled to it and in the proportion to which they are entitled, to be used exclusively in aid of common schools. (5) The interest at six percent (6%) per annum, payable on the first day of January and July each year, on six hundred six thousand six hundred forty-one dollars and three cents ($606,641.03) received from the United States under an act approved March 2, 1891, for which the Commonwealth has executed bond pursuant to Chapter 6 of the Acts of 1892. (6) Such sums as are appropriated by the General Assembly in aid of the common schools. ## Nearby sections - [KRS § 157.010 157.010 Elements of the school fund](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.010.md) - [KRS § 157.030 157.030 Net revenue to be distributed -- Incidental expenses not to be deducted](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.030.md) - [KRS § 157.060 157.060 Reports of funds received and spent by school districts](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.060.md) - [KRS § 157.063 157.063 Adaptive Kindergarten Readiness Pilot Project -- Selection of provider -- Duties -- Report](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.063.md) - [KRS § 157.065 157.065 School breakfast program -- Annual report by schools not offering](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.065.md) - [KRS § 157.067 157.067 Kentucky successful schools trust fund](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.067.md) - [KRS § 157.069 157.069 Definitions -- Distribution of general funds for converted career and technical education centers -- Career and technical education innovation and support fund -- Distribution of funds to state-operated area technology centers and locally operated career and technical education in certain fiscal years -- Oversight by the Office of Career and Technical Education -- Administrative regulations -- Publication of information on Kentucky Department of Education website](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.069.md) - [KRS § 157.072 157.072 Career and technical education accessibility fund](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.072.md) - [KRS § 157.075 157.075 Differentiated compensation plans -- Professional compensation fund -- Department of Education recommendations on teacher compensation](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.075.md) - [KRS § 157.077 157.077 Support for summer learning programs -- Segregation and use of funds](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.077.md) - [KRS § 157.100 157.100 Funds for textbooks, programs, and instructional regulation for free distribution](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.100.md) - [KRS § 157.110 157.110 Determination of grades and subjects to be provided with textbooks -- Rental of textbooks -- Free textbooks for certain students](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.110.md) - [KRS § 157.140 157.140 Responsibility for books not returned -- Enforcement](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.140.md) - [KRS § 157.145 157.145 Rebinding of textbooks](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.145.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_KY_TXIII_C157_S157.010. Check the current official text before relying on it. Not legal advice.