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65.944 When approval by state local debt officer or chief state school officer is required -- Technical and advisory assistance on leases.

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65.944 When approval by state local debt officer or chief state school officer is required -- Technical and advisory assistance on leases. (1) (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 <br>thousand dollars (&#36;500,000) without first receiving the approval of the lease <br>from the state local debt officer. The state local debt officer may prescribe <br>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 <br>(&#36;100,000) without first receiving the approval of the lease from the chief <br>state school officer. The chief state school officer shall recommend <br>administrative regulations to the State Board of Education for implementation <br>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 <br>assistance. Effective: July 15, 2008 <br>History: Amended 2008 Ky. Acts ch. 35, sec. 2, effective July 15, 2008. -- Amended 1994 Ky. Acts ch. 508, sec. 25, effective July 15, 1994. </p> <BR></DIV><!-- /.col.one --><!-- /.col.two --></DIV><!-- /.col.main --></DIV><!-- /div id = content --> <BR class=clear></DIV> <!-- /div id = livearea --> <DIV></DIV><!-- /.col.one --> <DIV></DIV><!-- /.col.main --> <DIV></DIV><!-- /#content --><BR class=clear> <DIV></DIV><!-- /#livearea --> <!-- Footer--> <DIV id=footer> <DIV class=container> <P class=copyright>Copyright &copy; 2012-2022 Laws9.Com All rights reserved. </P><!-- /.copyright --> <P class=footerlinks><A href="/contactus.html">Contact Us</A> | <A href="/aboutus.html">About Us</A> | <A href="/terms.html">Terms</A> | <A href="/privacy.html">Privacy</A></P><!-- /.footerlinks --> </DIV><!-- /.container --> </DIV><!-- /footer --> </BODY></HTML>