The county will place all funds collected pursuant to this subchapter (including without limitation all license fees, penalties, interest, overpayments and other revenues collected or otherwise derived hereunder) in a separate account of the county known as its Motor Vehicle License Fee Account; provided that prior to such deposit the county may retain an amount not to exceed 3% of the amount collected as reimbursement for its costs incurred for collecting the license fees. At least monthly, all of the funds deposited in such account will be paid and disbursed to TRI-ED for purposes of sharing such revenues among the counties pursuant to KRS 68.200(8). Funds will be paid to no other party out of such account. All of the proceeds of the license fee shall be used by TRI-ED for economic development activities, and for no other purpose whatsoever. TRI-ED shall provide the county such information at such times as is required for the county to determine that the use of the license fee revenues are in accordance with the requirements of the Act (KRS 68.200).
(Ord. 430.8, passed 12-27-94; Am. Ord. 2022-35, passed 1-10-23)