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Excerpt from Kentucky School Laws: 1914 183. - Common Schools to be Provided For. - The General Assembly shall, by appropriate legislation, provide for an efficient system of common schools throughout the State. (See sec. 4363, Ky. Stat) 184. - Fund Set Apart for Common Schools - Taxation for A. & M. College - The bond of the Commonwealth, issued in favor of the Board of Education, for the sum of one million three hundred and twenty-seven thousand dollars, shall constitute one bond of the Commonwealth in favor of the Board of Education, and this bond and the seventy-three thousand five hundred dollars of the stock in the Bank of Kentucky (now seventy-nine thousand eight hundred), held by the Board of Education, and its proceeds, shall be held inviolate for the purpose of sustaining the system of the common schools. The interests and dividends of said fund, together with any sum which may be produced by taxation or otherwise for the purposes of common school education, shall be appropriated to the common schools and to no other purpose. No sum shall be raised or collected for education other than in common schools until the question of taxation is submitted to the legal voters, and the majority of the votes cast at said election shall be in favor of such taxation: Provided, The tax now imposed for educational purposes, and for the endowment and maintenance of the Agricultural and Mechanical College, shall remain until changed by law. (See sec. 4370, Ky. Stat.) 185. - Common School Funds - Investment - Interest on - The General Assembly shall make provision, by law, for the payment of the interest of said school fund, and may provide for the sale of the stock in the Bank of Kentucky; and in case of a sale of all or any part of said stock, the proceeds of sale shall be invested by the Sinking Fund Commissioners in other good interest-bearing stocks or bonds, which shall be subject to sale and re-investment, from time to time, in like manner with the same restrictions as provided with reference to the sale of the said stock in the Bank of Kentucky. (See sec. 4370, Ky. Stat.) About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works."
