164.7923 Physical facilities trust fund.
132 words·~1 min read·
/ky/chapter-164/164-7923A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The physical facilities trust fund created by KRS 164.7911 is intended to provide
sufficient financial assistance for unexpected contingencies for the construction,
improvement, renovation, or expansion of the physical facilities of the
postsecondary education system.
(2)The Council on Postsecondary Education shall develop the criteria and process for
submission of an application under this section. The physical facilities trust fund
shall not replace the existing capital construction provisions and appropriation
provisions of state law. Each university or the Kentucky Community and Technical
College System may apply to the council for financial assistance from the physical
facilities trust fund. Financial assistance that may be awarded by the council shall
be consistent with the adopted strategic agenda, the biennial budget process, and the
availability of any resources to the physical facilities trust fund.