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154.35.055 Qualification as contracting university.

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Page 1 of 1 154.35-055 Qualification as contracting university. Universities individually or jointly eligible to serve as contracting universities for the <br>centers set forth in KRS 154.35-020 may qualify by: <br>(1) Agreeing to match the moneys allocated to the center by the council from the fund dollar-for-dollar from nonstate, nonagency funds raised by the university for <br>research purposes; provided that for university budget years ending on or before <br>July 1, 1996 a contracting university may provide its matching funds by redirecting <br>previously-budgeted state or agency funds. In the discretion of the council, a <br>university may provide all or part of its match by in-kind contributions of facilities <br>and equipment of equal value. (2) Providing an operations plan, acceptable to the council, for the center which sets forth staffing, facilities, equipment, anticipated business demand for services, a <br>proposed budget that reflects revenues from all sources including the fund, <br>matching contributions from the contracting university, and anticipated receipts <br>from research contracts with private businesses, and such other matters as directed <br>by the council; and (3) Entering into a contract with the council which sets forth the terms and conditions upon which the center will be operated, including the operations plan agreed upon <br>by the parties, performance standards, and funding commitments. The contract may <br>extend beyond the end of the budget cycle of the university, may be renewed or <br>extended by the parties, and shall be terminable by the council for nonperformance <br>or unacceptable performance by the university as specified in the contract. Effective: July 15, 1994 <br>History: Created 1994 Ky. Acts ch. 508, sec. 55, effective July 15, 1994.