65.944 When approval by state local debt officer or chief state school officer is

160 words·~1 min read·/ky/65-944

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

required -- Technical and advisory assistance on leases.

(a)In addition to the notification required by KRS 65.117, no county, except an

urban-county, shall enter into a lease if the lease price exceeds five hundred

thousand dollars ($500,000) without first receiving the approval of the lease

from the state local debt officer. The state local debt officer may prescribe

procedures and adopt regulations for granting approval of the leases.

(b)In addition to the notification required by KRS 65.117, no school district shall

enter into a lease if the lease price exceeds one hundred thousand dollars

($100,000) without first receiving the approval of the lease from the chief

state school officer. The chief state school officer shall recommend

administrative regulations to the State Board of Education for implementation

of KRS 65.940 to 65.956.

(2)The state local debt officer may provide technical and advisory assistance regarding

the entering into leases by a governmental agency whose governing body requests

assistance.