Marshall v. Commonwealth ex rel. Hatchett

OPINION

KNOPF, Judge:

This is an appeal from a declaratory judgment by the Greenup Circuit Court. The sole issue before this Court is whether interest earned on school tax funds placed in an interest bearing checking account (a “NOW” account) are deemed “investment earnings” under KRS 134.140(3)(b) and thus must be paid to the county school districts; or whether the interest may be retained by the Sheriff of Greenup County and used for the office’s legitimate operating expenses. We find that the trial court correctly held that the interest earned must be paid to the county school districts.…