Section 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, including general obligation bonds, in accordance with KRS Chapter 66 or 162.Amended by 2024 Ky. Acts ch. 126,§ 1, eff. 7/15/2024.Effective:4/3/1992
Amended 1992 Ky. Acts ch. 195, sec. 5, effective4/3/1992. -- Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 382, effective 7/13/1990. --Amended 1986 Ky. Acts ch. 435, sec. 1, effective 7/15/1986. -- Created 1985 (1st Extra Sess.), Ky. Acts ch. 10, sec. 26, effective 10/18/1985.