157.640 Successor agency of Kentucky School Building Authority. - Kentucky Statutes

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157.640 Successor agency of Kentucky School Building Authority. The School Facilities Construction Commission is the successor agency of the Kentucky
School Building Authority created by the 1978 Acts of the General Assembly Chapter
153. All powers, duties, obligations, and assets of the Kentucky School Building
Authority, including an obligation for only those projects which have been approved for
funding or partial funding as of July 1, 1985, and for which funds have been appropriated
by the General Assembly as of June 30, 1986, are hereby transferred to the School
Facilities Construction Commission. The commission is hereby empowered with all
rights of successorship necessary to assure continuance of all legal and contractual
functions and liabilities associated with the outstanding bonds issued in the name of the
Kentucky School Building Authority and may refund such bonds previously issued in the
name of the Kentucky School Building Authority. Effective: July 13, 1990
History: Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 390, effective July 13, 1990. -- Created 1985 (1st Extra. Sess.) Ky. Acts ch. 10, sec. 36, effective
October 18, 1985.