A resolution concerning the County Road Aid Cooperative Program has been approved following action taken by the Caldwell County Fiscal Court.
At a meeting Tuesday morning County Attorney Roy Massey IV presented the resolution which outlines an agreement between the Kentucky Transportation Cabinet Department of Rural and Municipal Aid and the fiscal court regarding funds received through fuel taxes. The agreement states that 18.3% of revenue from fuel taxes shall be set aside for the construction, reconstruction, and maintenance of county roads and bridges.
According to the resolution the county is set to receive $1,006,576.81 in road aid funds for the Fiscal Year beginning July 1st, 2020 with three percent held back for an emergency fund. The funds will be distributed in three rounds with the county receiving sixty percent, or $585,828, in the first round. The second distribution will include up to thirty percent of the funds and will depend on how actual revenues compare to revenue estimates. The third distribution will then be composed of the remaining funds, based on actual revenues tabulated after the end of the fiscal year on June 30th, 2020.
Following a motion and a second the court unanimously approved the resolution to accept the agreement.
