2006 Kentucky Revised Statutes - .250   Contracts for equipment, tools, supplies, and materials.

197.250 Contracts for equipment, tools, supplies, and materials. The department may enter into contracts approved by the State Property and Buildings Commission with any person or persons upon a self-liquidating basis respecting the acquisition and purchase of any equipment, tools, supplies, and materials, so that it may be paid for over a period of not exceeding five (5) years. The aggregate amount of the purchases or acquisitions shall not exceed two hundred and fifty thousand dollars ($250,000) unless specifically approved by the Governor and the amounts shall be payable solely out of the revenues derived from the activities authorized by KRS 197.200 to 197.250. Nothing in this section shall be so construed or interpreted as to authorize or permit the incurring of a state debt of any kind or nature as contemplated by the Constitution. Effective: July 14, 1992 History: Amended 1992 Ky. Acts ch. 211, sec. 62, effective July 14, 1992. -- Amended 1982 Ky. Acts ch. 344, sec. 34, effective July 15, 1982. -- Amended 1974 Ky. Acts ch. 74, Art. V, sec. 24(14). -- Created 1954 Ky. Acts ch. 46, sec. 6.