2016 Kentucky Revised Statutes CHAPTER 157 - STATE SUPPORT OF EDUCATION .623 Funding urgent and critical construction needs -- Proceeds of litigation or insurance to be used for reimbursement.
Download as PDF
157.623 Funding urgent and critical construction needs -- Proceeds of litigation or
insurance to be used for reimbursement.
(1)
(2)
(3)
Notwithstanding KRS 157.620 and any provision included in an enacted executive
branch budget, urgent and critical construction needs shall be determined by the
Department of Education. The department shall provide a funding allocation to a
school district for a school that has been closed to the public because it is
structurally unsound as determined by a certified engineer, or is otherwise
uninhabitable as determined by the commissioner of education, and has a bond that
has not been retired. The commissioner of education shall determine if a school
qualifying under this subsection shall receive an allocation and shall determine
which of the following options is in the best interest of the Commonwealth:
(a) To allot funding to the school district to retire the unpaid debt on the
structurally unsound or uninhabitable building; or
(b) To provide the semi-annual debt service payments on the current issue.
If funds are not available for the purpose set out in subsection (1) of this section, the
costs shall be deemed a necessary government expense and shall be paid from the
general fund surplus account under KRS 48.700 or the budget reserve trust fund
under KRS 48.705.
If a school district receives an allotment under subsection (1) of this section and
subsequently, as the result of litigation or insurance, receives funds for the original
facility, the school district shall reimburse the Commonwealth an amount equal to
that received pursuant to subsection (1) of this section. If the litigation or insurance
receipts are less than the amount received pursuant to subsection (1) of this section,
the district shall reimburse the Commonwealth an amount equal to that received as
a result of litigation or insurance less the district's costs and legal fees in securing
the judgment or payment. Any funds received in this manner shall be deposited in
the budget reserve trust fund account established in KRS 48.705.
Effective: March 15, 2011
History: Created 2011 Ky. Acts ch. 32, sec. 1, effective March 15, 2011.
2016-2018 Budget Reference. See State/Executive Branch Budget, 2016 Ky. Acts ch.
149, Pt. I, A, 28, (2) at 1053.
2016-2018 Budget Reference. See State/Executive Branch Budget, 2016 Ky. Acts ch.
149, Pt. I, A, 28, (4) at 1053.
2016-2018 Budget Reference. See State/Executive Branch Budget, 2016 Ky. Acts ch.
149, Pt. I, A, 28, (5) at 1053.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.