162.520 Definitions for KRS 162.520 to 162.620.

189 words·~1 min read·/ky/chapter-162/162-520

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

As used in KRS 162.520 to 162.620, the following terms and words have the following respective meanings, unless another meaning is clearly indicated by the context:

(1)As used in KRS 162.540, 162.550, 162.580, 162.590, 162.600, and 162.620

"authority" means "State Property and Buildings Commission;"

(2)"Department" means the State Department of Education;

(3)"Board of education" means the governing body of a county school district, or of an

independent school district, for which the authority issues its revenue bonds

pursuant to KRS 162.520 to 162.620;

(4)"Project" means any undertaking to provide for a board of education any school

buildings, facilities, improvements, and appurtenances authorized in KRS 162.120

to 162.300;

(5)"Lease" or "lease instrument" means a written instrument for the leasing of one

or more school projects executed by the authority as lessor and a board of education

as lessee, conforming to the specifications set forth in KRS 162.140;

(6)"Bonds" or "bonds of the authority" means bonds issued by the authority under KRS

162.520 to 162.620, payable as to principal and interest solely from rentals received

from a board of education pursuant to a lease.