157.611 School Facilities Construction Commission -- Legislative intent. - Kentucky Statutes

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Page 1 of 1 157.611 School Facilities Construction Commission -- Legislative intent. (1) By establishing the School Facilities Construction Commission, the General Assembly expresses its commitment to help local districts meet the school
construction needs and the education technology needs of the state in a manner
which will insure an equitable distribution of funds based on unmet facilities need
and the total implementation of the Kentucky Education Technology System. (2) The commission is empowered to act on behalf of school districts to issue bonds in the name of the commission and to enter into lease agreements with local boards of
education to finance construction of new facilities, major renovation of existing
school facilities. The commission is also empowered to enter into agreements which
may provide for a percentage discount, on a biennially renewable basis, of annual
lease agreements due the commission for those districts which participate. The
commission is also empowered to enter into lease agreements with the Department
of Education to build state-owned facilities operated by the Department of
Education or to purchase or lease education technology equipment and related
software identified in the technology master plan for those facilities or the
Department of Education. (3) The commission shall assist local school boards meet their education technology needs by distributing state funds appropriated for this purpose and by assisting
school boards to design efficient finance plans for the bonding, purchase or lease of
education technology equipment and related software identified in the technology
master plan. (4) The commission shall administer two (2) separate programs: the school construction funding program and the education technology funding program.
Funds appropriated for each program shall be maintained, administered, and audited
separately. (5) Nothing in KRS 157.611 to 157.640 shall prohibit a school district from issuing bonds in accordance with KRS Chapter 162. Effective: April 3, 1992
History: Amended 1992 Ky. Acts ch. 195, sec. 5, effective April 3, 1992. -- Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 382, effective July 13, 1990. --
Amended 1986 Ky. Acts ch. 435, sec. 1, effective July 15, 1986. -- Created 1985 (1st
Extra Sess.), Ky. Acts ch. 10, sec. 26, effective October 18, 1985.